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addaword.gifdefinition of haircut

noun
a reduction in the amount of debt that will be paid back to an institution that has lent a lot of money
Major French and German financial institutions will be saved billions of euros in payouts if – as expected – the 50pc haircut on Greek government debt does not trigger credit insurance contracts.
Submitted by: Harris Park from United Kingdom on 28/10/2011 09:51:00
Definition of haircut from the Open Dictionary – a public resource hosted by Macmillan English Dictionary Online

food rave

a very large party where people eat, sell or share many different types of food, usually held outside or in a large public building

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skanky

very unpleasant or dirty