Disabled soldiers also will cost a lot of money, even if the Pentagon won t automatically pay everything for them.

The crucial issue is the extent to which creditors will have to participate in rescue measures by accepting haircuts that is, partial losses on their claims.

(b) To service beneficiaries with a view towards the timely and quality receipt of their monthly and or one time benefit and to provide other services to the beneficiaries throughout the life of the pension.

Thus, a second set of policies and institutional reforms requires that all unsecured creditors of banks and other financial institutions need to be treated that is, they must accept losses (or haircuts ) on their claims.