Eurozone Finance Ministers Reject Greek Private Debt Settlement
Eurozone finance ministers rejected a deal between private investors which hold Greek debt, and the leadership of the southern European nation. These investors have insisted that they receive a coupon of at least 4% if they convert current paper into…
Eurozone finance ministers rejected a deal between private investors which hold Greek debt, and the leadership of the southern European nation.
These investors have insisted that they receive a coupon of at least 4% if they convert current paper into bonds which have about half their current face value. Finance ministers say Greece cannot sustain that level of payment and stage a recovery and deficit reduction at the same time.
The stand off might make Greek default more likely
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