Yes, but that's the book value of the debt, not the real value. In reality creditors will never be remunerated with this. A political and economic fantasy per

Yes, but that's the book value of the debt, not the real value. In reality creditors will never be remunerated with this. A political and economic fantasy persists that the creditors will not lose out of this, that they will be made whole. But each loan involves a debtor and a creditor, both will end up accepting losses. The faster this is done, the better it will be for all involved.