FISCAL: Tit for Tat?

The usually mellow London Economist was hopping mad. What had excited it, and other Britons, were the terms of the new settlement of Brazil's external debt, as they went into effect last week.

Cried The Economist: "It does not need to be proved that the American creditor has received better terms than the British. ... Of the outstanding debt Americans hold 34.2%; but they are to receive between 36.4 and 39.3% of the payments. ... If this is to be the treatment meted out to creditors then any hope of a revival of...

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