The discussions over a deal to cut Greek debt by €100 billion and reduce the country’s debt level to 120% of GDP by 2020 are currently stalled on the interest rate private bondholders will accept on new Greek bonds after they take a 50% haircut on the face value of the bonds they currently own. But that may not be the biggest problem.
The Greek rescue package may have to be enlarged, and neither Eurozone governments or private bondholders or the European Central Bank are willing to accept a larger role in the second round of Greece’s bailout funding. An excellent story at MarketWatch cites observers who think an additional €20 billion will need to be made up if the deal is to go through.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
