Saturday, February 22, 2014

That which must not be named...

Think I've mentioned before that, at one time during my working life I was involved in dealing with people seeking to go bankrupt.  But now I learn that the EU want to ban the word bankruptcy. Apparently they see it as "pejorative" and want to replace it with "debt adjustment".  I can perhaps see where they're coming from, but I am not convinced, and the word "bankrupt" itself has a specific definition which, unlike the practicalities surrounding the process of "bankruptcy" has nothing to do with dealing with indebtedness, but simply signifies a situation where your liabilities exceed your assets.  I don't think "debt adjusted" means the same thing at all.

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