El Doble Rasero


That’s Spanish for double standards.

Which Paddy hates.

The European Central Bank declined to comment on a report that it had recommended that senior bondholders should take losses in the event of a restructuring of Spanish bank debt.

A report in the Wall Street Journal today said ECB President Mario Draghi advocated imposing losses on senior bondholders issued by “the most severely damaged” Spanish savings banks at a meeting of European Union finance ministers on July 9.


ECB Declines to Comment on Spanish Bank Bond Loss Report in WSJ (Bloomberg)