What is a debt default? And a 'haircut'?
Εκπαιδευτικά Άρθρα 27/02/2012 16:49An early sign of a possible default is when the credit rating agencies downgrade the credit rating of the country concerned to 'junk bond status' . And why are bond-holders getting 'haircuts'? A 'haircut' is a loss in the value of an investment or security.The term is currently in the news as those.