Another Politician Sinks Bond Markets by Bumbling Default Lingo
- Lebanese debt miscommunication is latest in series of mishaps
- Markets roiled as officials mix restructuring with refinancing
Photographer: Jospeh Eid/AFP via Getty Images
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Restructuring.
It’s the word that lurks in the nightmares of every bond investor, and should only be used by governments in case of emergency. So it’s a bit surprising that hapless policy makers keep saying it by mistake.