Taxing depositors is seen by the market as a radical change from the usual practice, and doing so would give depositors in other debt-ridden countries an incentive to shift their money to banks in other countries, most likely Germany.
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Congress should let the Fed issue its own debt, which would give it scope to tighten monetary policy without disorderly sales of the illiquid private debt it has taken on.
Most recently, they have been hallucinating that the debt ceiling would give them leverage to cut federal spending.
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Earlier this month, Mr Lavagna unveiled a proposed debt restructuring that would give bondholders around 33-36 cents on the dollar.
Jet is in talks to sell a stake to Abu Dhabi-based Etihad Airways which would give it cash to retire some debt and expand operations.
He declared that the United States would give up to a billion dollars in debt relief to Egypt and economic, trade and technical aid to the Egyptians and Tunisians.
Conversely, I think raising the debt ceiling before the deadline would give the US and global stock markets quite a boost.
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This provision would prioritize spending on debt service and Social Security to give them both first-call on revenues in the event the debt limit is reached.
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More optimistic news in Europe included a meeting in Brussels this week in which EU leaders agreed to a crisis resolution mechanism that would give the EU an exit plan in situations of heavy debt and default.
Those who wish to eliminate the debt limit must understand that its elimination would not give the Treasury the freedom to borrow at will.
This is clever, in that it would spare Republicans from voting to raise the debt ceiling (and indeed give them three opportunities to vote against it) while sparing America a default.
He would, I suspect, give up almost anything to avoid having to face the debt limit shortly after he is sworn in.
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High River, which owns some of Realogy's senior bonds, alleges the repayment of its securities would be unfairly delayed under the debt deal announced last month since it may give new debtholders certain benefits such as moving them up on the repayment list if Realogy goes bankrupt.
"If people are in place where they are not going further and further into debt and all of their money isn't going into paying off debt, then financially they are freed up to give to things they would like to give to, " he added.
This would not only boost aggregate demand, but would have the pleasant side-effect of reducing the amount of debt held by the public, which could give Congress room to cut taxes or increase spending.
For one, if the ECB were to give the euro a gold definition, the cost of servicing euro-denominated debt for Greece and Ireland would decline.
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