Friday, October 28, 2011

Making Dinner Plans, European Bailout Style: Details to Follow. Maybe.

by Vincent Cignarella

Wall Street Journal

October 28, 2011

An old friend of mine, the president of a well-respected think tank, and I made a steak dinner bet yesterday on whether Greece would be back to the table and default again by the end of June 2012. I took the side that they would be back. We have not decided what constitutes a second Greek default, nor have we decided which restaurant we will choose.

My friend and I get together now and again similar to the way a certain European chancellor and president do, although no one has mashed our names together just yet.

If push comes to shove, we can call ISDA for a suggestion. I am sure they know a good steak restaurant. They certainly are not sure on what a default is. We have not decided on any other details yet either, such as appetizers, side dishes or who gets to pick the wine. There will be wine and it will be red. I can give you that detail right now. But no other details are yet available.


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