The many stages of grief

economist.com — AS SLOGANS go, "restructure the promissory-notes repayment schedule" doesn't have quite the same tub-thumping ring as "burn the bondholders". But as Ireland has moved from the anger to the bargaining stage of economic grief, it has realised that coming to a deal over €31 billion ($41 billion) in promissory notes which the government issued to two failing banks is more important than defaulting on their remaining unsecured bondholders.
My piece on Ireland, prom' notes etc. Pieces in Finance section usually a bit over my head so that's how I pitched it. t.co/0WoEBC1U