Is there a solution to the Eurozone crisis, as regards Greece? I believe so.
1) A default has clearly been ruled out, as stated by Mme Merkel and PM Papandreou.
2) A contained default - where Greek debt with high interest would be set off against newly issued
paper with a kinder interest. I believe this is likely; and I read the debt bonds will be exchanged
3) Another scenario is where the Eurozone buys up some of the Greek debt, especially the Euro 171 Billion
held by hedge funds and other investors, hoping for a high interest. This is probably the debt causing the
constipation in the system. 55 percent for 2 years is frankly impossible.
So I believe all investors should be sent a commonique suggesting a much, much more reasonable interest
rate, which could greatly help the enormous problem which otherwise exists.
By being kind at present, all the lenders will help to save the future.
Once the Greek economy recovers, the investors could see their investments receive good dividends.
A combination of 2 and 3 will help to achieve a good result.
It will rescue Greece, strenghten the Eurozone and save the banking system.
With other progressive ideas, the whole world economy will start to improve.