Tense Negotiations Between Greece And Private Creditors Continue
The stand off between Greece and private holders of its sovereing debt continues. Greece has subtely indicated that a default would wipe these investors out. The investors appear ready to face that possibility rather than take a haircut on their…
The stand off between Greece and private holders of its sovereing debt continues. Greece has subtely indicated that a default would wipe these investors out. The investors appear ready to face that possibility rather than take a haircut on their holdings which could be over 50%. Both sides probably believe that a bailout by the regions economically stronger nations will make a compromise possible, because these nations do not want to risk an end to the euro.
CNN Money writes
Greek government officials and the group representing private sector investors and banks are resuming talks, after briefly hitting the ‘pause’ button late last week.
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