A deal about the write downs private investors will have to take as Greece adjusts it debt load, and a growing recession there are the two major hurdles to a successful bailout. Private investors have been back and forth from meeting with the Greek government, concerned about how much money they will have to write down if a deal is struck.
After days of concern that private investors had turned down a compromise, an agreement may be at hand
Bloomberg reports that
Greece and its private creditors are beginning a final push to renegotiate debt as a member of the investor group said they are likely to get cash and securities with a market value of about 32 cents per euro of government bonds.
That haircut appears larger than private investors have insisted upon up to this point
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