O Estado português tem de anular unilateralmente todas as PPP, concessões e contratos que não salvaguardaram os interesses dos contribuintes e a portuguesa Justiça tem de perseguir os seus criminosos autores

9.16am: What can we learn from the Greek debt swap process?

Sony Kapoor, director of the Re-Define thinktank, came up with a list of 12 lessons early this morning.
1) Developed country restructuring is no longer taboo,
2) Always try to issue bonds under domestic law
3) Desperation helps
4) Sovereign CDS markets are not that problematic
5) CACs & aggregation clauses can work well
6) Carrot-Stick approach best
7) Bridge financing is important
8) Best 2 restructure with fiscal surpluses, not large deficits
9) Reg forbearance rocks
10) Best to nationalize banks before restructuring
11) In peacetime issue long maturity bonds
12) try GDP-linked bonds

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