From "Sovereign Liability Management Exercise" To "Reprofiling" To "Muddling Through": The Many Faces Of The Greek Bankruptcy

Submitted by Tyler Durden
05/17/2011 07:52 -0400
32 comments

A week ago it was called "Sovereign Liability Management Exercise" following the politically corrected definition of the Greek bankruptcy by Goldman Sachs. However, after Zero Hedge proposed the unpopular acronym SLiME to capture the essence of this idea, the latest appellation of the current Greek metamorphosis stage from solvency to bankruptcy appears to be "reprofiling." Per Bloomberg: "European finance ministers for the first time floated the idea of talks with bondholders over extending Greece’s debt-repayment schedule, saying that last year’s 110 billion-euro ($156 billion) rescue has failed to restore the country to financial health. Europe would consider “reprofilingâ€