Mario Blejer, who managed Argentina’s central bank in the aftermath of the world’s biggest sovereign default, said Greece should halt payments on its debt to stop a deterioration of the economy that threatens the European Union.
U.S. stocks rose, Europe’s benchmark equity index rebounded from a two-year low and Treasuries fell as French banks dismissed concerns over their access to funds and investors watched for signs of progress in efforts to tame the euro region’s debt crisis.
U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a second day, as French banks eased concerns over their access to funding and investors watched for signs of progress in taming Europe’s debt crisis.
One of the undeniable features of the European debt crisis is the tendency to obscure, verbally and politically, the real issues at play. Euphemisms, statistical gimmicks, meaningless institutional squabbling, undecipherable acronyms, and plain double talk proliferate as part of the debate.