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  3. Finance (general)

Schuldenschnitt

English translation: (debt) haircut

09:13 Jun 27, 2012
German to English translations [PRO]
Bus/Financial - Finance (general) / Debt
German term or phrase: Schuldenschnitt
Hello,
looking for the English word.... context:
"Mit dem Schuldenschnitt in Griechenland hat sich die Situation nicht wesentlich verbessert."
Any ideas?
Thx
Marc Heinitz
Local time: 20:24
English translation:(debt) haircut
Explanation:
"Debt cut" is correct but this is also referred to as "haircut" in English-speaking business news.

Compare

http://www.zeit.de/wirtschaft/2012-03/griechenland-schuldens...
"Griechenland steht vor dem Bankrott. Damit das Land zahlungsfähig bleiben kann, bittet es seine Gläubiger, auf einen Teil der Forderungen zu verzichten. Fachleute sprechen von einem Schuldenschnitt, neudeutsch: Haircut..."

and

http://www.reuters.com/article/2012/02/08/us-greece-ratings-...
"Greek debt not sustainable with 70 pct haircut: S&P"

http://www.guardian.co.uk/business/2012/mar/07/bild-greek-bo...
Selected response from:

Steffen Walter
Germany
Local time: 20:24
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +4Greek haircut
Laura Ball (X)
3 +4(debt) haircut
Steffen Walter
3 +1debt cut
Coqueiro
4Greek bailout (plan)
Wolf Draeger
4debt write-off
Pauline Alexiou
3debt relief
Roman Lutz
3debt restructuring
Michael Martin, MA
3 -3average debt
Salih YILDIRIM


Discussion entries: 2





  

Answers


10 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
debt cut


Explanation:
Greece debt cut: Some of Europe's biggest banks hit

http://www.bbc.co.uk/news/business-17110355

Coqueiro
Local time: 20:24
Native speaker of: Native in GermanGerman
PRO pts in category: 7

Peer comments on this answer (and responses from the answerer)
agree  Cetacea
1 day 5 hrs
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10 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
debt relief


Explanation:
z.B. hier zu finden:

http://en.wikipedia.org/wiki/Greek_government-debt_crisis

Roman Lutz
Germany
Local time: 20:24
Native speaker of: German
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18 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +4
(debt) haircut


Explanation:
"Debt cut" is correct but this is also referred to as "haircut" in English-speaking business news.

Compare

http://www.zeit.de/wirtschaft/2012-03/griechenland-schuldens...
"Griechenland steht vor dem Bankrott. Damit das Land zahlungsfähig bleiben kann, bittet es seine Gläubiger, auf einen Teil der Forderungen zu verzichten. Fachleute sprechen von einem Schuldenschnitt, neudeutsch: Haircut..."

and

http://www.reuters.com/article/2012/02/08/us-greece-ratings-...
"Greek debt not sustainable with 70 pct haircut: S&P"

http://www.guardian.co.uk/business/2012/mar/07/bild-greek-bo...

Steffen Walter
Germany
Local time: 20:24
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 400
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Usch Pilz
2 hrs
agree  dkfmmuc: Agree. A sad but correct translation.
6 hrs
agree  Cetacea
1 day 4 hrs
agree  Coqueiro
1 day 5 hrs
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17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
Greek haircut


Explanation:
See the following references for examples of this rather odd-sounding term in use:

http://news.bbc.co.uk/today/hi/today/newsid_9704000/9704042....

http://www.reuters.com/article/2012/02/06/us-imf-greece-blan...

http://www.forbes.com/sites/timworstall/2012/01/17/eurozone-...

Other possibilites are "(Greek) debt cut", "(Greek) debt haircut" or "(debt) haircut in Greece"

--------------------------------------------------
Note added at 18 mins (2012-06-27 09:31:51 GMT)
--------------------------------------------------

See also:

http://www.dict.cc/german-english/Schuldenschnitt.html


    Reference: http://www.spiegel.de/international/europe/debt-haircut-for-...
Laura Ball (X)
Local time: 19:24
Specializes in field
Native speaker of: English

Peer comments on this answer (and responses from the answerer)
agree  Usch Pilz
2 hrs
agree  Wolf Draeger
4 hrs
agree  Harald Moelzer (medical-translator): all of your suggested options would work well here
21 hrs
agree  Coqueiro
1 day 5 hrs
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Greek bailout (plan)


Explanation:
Another option; haircut is also perfectly acceptable (and closer to the German imagery). I think the best answer (haircut vs. bailout vs. debt-restructuring) will depend on the target publication and the terminology it has previously employed.

Example sentence(s):
  • The Greek bailout plan has not improved matters much.
Wolf Draeger
South Africa
Local time: 20:24
Works in field
Native speaker of: English
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10 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -3
average debt


Explanation:
Imho

Salih YILDIRIM
United States
Local time: 14:24
Specializes in field
Native speaker of: Native in TurkishTurkish

Peer comments on this answer (and responses from the answerer)
disagree  Kim Metzger: Average is Durchschnitt.
1 hr
disagree  Cetacea: I'm sure they wish that were what it is about...
19 hrs
disagree  Steffen Walter: Completely off the mark - please read the references provided in previous answers.
19 hrs
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1 day 7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
debt write-off


Explanation:
despite the huge debt write-off for Greece, the situation has not improved substantially
http://www.voanews.com/content/greece-nears-debt-write-off-g...

Example sentence(s):
  • Greece is the first European country to be granted such a huge debt write-off
Pauline Alexiou
Local time: 21:24
Native speaker of: Native in EnglishEnglish
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4 days   confidence: Answerer confidence 3/5Answerer confidence 3/5
debt restructuring


Explanation:
A bit of a euphemism but still an exact match


    Reference: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1993037
Michael Martin, MA
United States
Local time: 14:24
Works in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 147
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