Tuesday, February 1, 2011

Greek Restructuring (a/k/a bankruptcy) Coming?

Roubini Global Economics is reporting:
Several proposals to restructure Greek debt are circulating among EU, IMF and ECB officials, including a haircut of 25-35%, a loan maturity extension to 30 years and a lower interest rate, though negotiations are at an early stage and will require the approval of eurozone leaders.
If Greece goes, others will follow. Some other PIIGS, and beyond.

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