Here's the Deal That Saved the Global Economy, Handwritten on One Sheet of Paper [Economics]:
Europe will apparently not fall apart after German chancellor Angela Merkel shepherded a deal early Thursday morning to write down Greek's debt. It's complicated, but basically she got a bunch of banks to take a 50% haircut on what Greece owes them. Click on the image on the right to see how one of the negotiators diagrammed it in the middle of the night. More »
Europe will apparently not fall apart after German chancellor Angela Merkel shepherded a deal early Thursday morning to write down Greek's debt. It's complicated, but basically she got a bunch of banks to take a 50% haircut on what Greece owes them. Click on the image on the right to see how one of the negotiators diagrammed it in the middle of the night. More »
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