"I'll Gladly Pay You Tuesday for a Hamburger Today"

By Austin Bay - December 27, 2012

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As 2012 ends, the Greek debt crisis continues. In December, the Greek government began restructuring its debt for the second time this year. "Restructuring" may sound clean and clinical. It isn't. Greece couldn't meet its debt payment requirements, so its lenders agreed to a new repayment schedule. Occasionally, the term "selective default" appears when restructuring occurs. Finance ministers and...

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