Greece Situations Worsens
As delegation from the IMF, EU, and ECB started a visit to Greece to determine its creditworthiness to get the next tranche of rescue money, negotiations with private investors continue to go badly The next bailout payment, in October, would…
As delegation from the IMF, EU, and ECB started a visit to Greece to determine its creditworthiness to get the next tranche of rescue money, negotiations with private investors continue to go badly
The next bailout payment, in October, would be $165 billion. But, if the financial situation in the country, and negotiations with private investors worsen, Greece may not get a smaller payment in March, which could trigger a default
Private investors have tentatively agreed to make a debt exchange of current bonds for new ones. This would reduce the fact value of the debt by 50%. There is pressure to take less than this among, agreed upon month ago. So, these private investors have left the negotiating table for the time being
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