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The Debt Spiral - fears of a Greek "haircut"

Fabian ChristAugust 10, 2011

Has the Greek economy been rescued? Hardly; the country may be facing even worse problems, according to Christoph Trebesch. A study conducted by the economist suggests that a so-called haircut - or bond devaluation - could have dramatic consequences for Greece.

Our reporter Manuel Özcerkes meets up with the scientist, who despite the potential consequences sees no alternative to a radical haircut for Greece. We also speak with hairdresser Thorsten Wozniak. As a longtime expert on haircuts, he has his own perspective on the issue.