Greece debt deal: fudge, but better fudge
November 27, 2012  20:56
The Greek debt deal was a fudge '" they always are '" but Monday night's version came with added ingredients. The Eurogroup and International Monetary Fund have dug deep into the larder and thrown in everything they could find. 

There's a debt buyback at 35 cents in the euro; an under-the-table gift labelled a "return of profits" on the European Central Bank's holding of Greek bonds; a reduction in lending rates; and an extension to repayment terms for both interest and principal. Call it a rum and raison mix with a dash of vanilla and a hint of pecan.
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