The Greek government finish its debt restructuring as it closes a transaction with private investors. The aid from its neighbors, the IMF, and indirectly, the ECB is nearly in place.
Now that all other transactions are in place what is left is to get private bond holders to trade their current Greek bonds for new ones worth about 70% less. So far 60% of the holders have agreed. That is nearly enough to seal the deal. Markets rose on anticipation of the closing. For the time being, the fact that Greek GDP is falling and unemployment is at nearly 15% has been forgotten. The international capital markets can put off worrying about that until Greece releases national economic figures for the current quarter.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
