Euro zone countries appear to have agreed on some measures to lower Greece's debt burden. |||
Euro zone countries appear to have agreed on some measures to lower Greece's debt burden, but are still discussing the size of losses private bondholders will be asked to take, a Greek finance ministry official said on Monday. “There appears to be an agreement on lowering the interest rate of the initial (EU/IMF) loans to Greece as well as on the participation of Greek bonds held in the investment portfolios of (euro zone) national central banks in the debt swap plan,” the official said on condition of anonymity.
A deal that imposes 50 percent losses on private sector bondholders means Greece's debt burden will be sustainable, Greek Prime Minister George Papandreou said. ||| A deal that imposes 50 percent losses on private sector bondholders... Read Post
Euro zone leaders struck a last-minute deal to limit the damage from the currency bloc's debt crisis early but are still far from finalising plans to slash Greece's debt burden and strengthen their rescue fund. ||| Euro zone leaders... Read Post