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Debt Crisis
It looks as though the PROMESA legislation is going to be approved by the Senate and signed by the President in the very near future. While far from perfect, this legislation is also far from being a worst case scenario for both creditors and bond insurance companies. It is hard to overstate just how attractive...
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Euro leaders produced some tangible results over the night through extended discussions.  They agreed to set up a single banking supervisor to oversee the industry, and this will enable funding from the ESM, which takes pressure off the peripheral countries economies that are struggling to raise cash at reasonable prices.  Finance ministers are targeting a...
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