Economy

xchrom

(108,903 posts)

67. Talks over forgiving Greek debt proving difficult

Fri Dec 16, 2011, 11:04 AM

Dec 2011

http://hosted.ap.org/dynamic/stories/E/EU_GREECE_FINANCIAL_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-12-16-09-18-38

BRUSSELS (AP) -- Private creditors are balking in talks about forgiving euro100 billion ($130 billion) in Greek debts, European officials warned Friday, just as negotiations heat up on the debt restructuring that aims to save Athens from bankruptcy.

European and Greek negotiators were meeting with representatives from banks and investment funds again Friday in Paris, after holding talks earlier this week in Athens.

They are trying to work out the terms under which private creditors are willing to exchange their existing Greek bonds for new ones with a lower face value.

The swap, which was meant to go ahead in early 2012, is supposed to reduce Greece's debt to 120 percent of gross domestic product by 2020. Without a restructuring, Greece's debt load would reach almost 200 percent of GDP by the end of 2012.

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STOCK MARKET WATCH, Friday, December 16, 2011 [View all] Hugin Dec 2011 OP

Okay, here's the downside of me doing this. Hugin Dec 2011 #1

excellent n/t Po_d Mainiac Dec 2011 #2

Yes, I can do that mid-morning here tomorrow. Ghost Dog Dec 2011 #5

Please, excuse my lack of perceptiveness... Hugin Dec 2011 #87

This is what my firewall/site analyzer shows me, that's all. Ghost Dog Dec 2011 #92

... Hugin Dec 2011 #103

You are giving me calendar anxiety. tclambert Dec 2011 #3

Sorry about that. Hugin Dec 2011 #4

I suggest adding a link back to each previous day's thread, Ghost Dog Dec 2011 #6

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I jinxed them! (either that or it was Fitch's release >>>>> Roland99 Dec 2011 #83

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... xchrom Dec 2011 #88

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