Greece And Creditors Still Locked In Battle
Negotiation between Greece and private investors which hold much of its debt have faltered again. Greece believes it needs these investors to exchange their sovereign paper for new debt which has about half of the current value and probably a…
Negotiation between Greece and private investors which hold much of its debt have faltered again. Greece believes it needs these investors to exchange their sovereign paper for new debt which has about half of the current value and probably a lower interest rate. Greece faces a default in March when it is due to receive more rescue money from its neighbors
Nearly a week after talks hit an impasse, the two sides remain bogged down over the coupon, or interest payment, that Greece must offer on its new bonds under the swap.
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