Trichet Bonds Echoing Brady Plan May Fix Debt Woes: Euro Credit

Two decades after Citigroup Inc.’s William Rhodes helped Latin American nations restructure their debts, investors are telling him a similar solution may fix the euro area’s borrowing crisis.

“Some people have been talking about Brady bonds,” said Rhodes, a senior adviser to Citigroup in New York and its former senior vice chairman. “Anything is possible. There are a number of people who feel the austerity process is not going to be sufficient to carry the day and to service the debt.”