Seriously, is it entirely necessary to be ignorant of finance to write for The Guardian on finance?
Greece is on the verge of a breakthrough in talks with its creditors that could wipe out up to 70% of its debts and alleviate the crisis in the eurozone.
No it bloody isn\’t.
They\’re on the verge of a deal whereby some of their creditors take a 70% haircut on their debt.
But not all of their creditors take a 70% haircut.
Therefore the total debt will fall by some amount smaller than 70%.