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Haircut

noun; analogy
to accept a less than optimal return on debt, debt forgiveness
 
This term is used by economists, news organizations, and talk shows to talk about debt and bond repayments. I first heard this word on the Daily Show when John Steward talked about the haircut on the debt of Greece. EU must make a haircut on Greece's debt in order to maintain financial stability. This term is metaphorically comparing the cutting of debt to the cutting of hair.
Etymology : Hair+ Cut, analogous to cutting debt repayments
Source : Daily Show 2011
Last modified: 30 November 2011


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