In response to:

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

traitorbill Wrote: Dec 27, 2012 12:32 PM
"The people living today are entitled to free things provided by the government; that is why we have a govt in the first place." Your belief is a prescription for our enslavement. Redistribution is theft.
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 treasury secretaries will tell you the term is just credit rating agency lingo, which Wall Street understands, so don't let it scare you. In fact, Greek Finance Minister Evangelos Venizelos said exactly that right after Greece began restructuring. "The word selective default...