Auerback on the Latest Eurodrama
Marshall Auerback appeared on the Business News Network to give his take on the latest developments in the eurozone crisis; specifically with respect to the ongoing negotiations over the proposed (now 70 percent) haircut on Greek debt. Auerback also addressed the LTRO (noting the rather dramatic increase in the ECB’s balance sheet) and the credit default swaps on Greek debt (on this, see also Micah Hauptman’s take on the process for determining when these CDS payments are triggered: “murky, unregulated, and replete with conflicts of interest“).
You can watch a clip of Auerback’s interview here.
(credit to Mitch Green at NEP)
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