The Debate over Greece’s debt had been postponed until recently. Its is said to resume shortly and resolve this issue once and for all. Hopefully we can all move out from under this debt in the next couple of years.
“Greek debt talks are set to resume this week as the country at the heart of Europe’s financial crisis struggles to get another round of bailout funds.
Over the weekend Greek Finance Minister Evangelos Venizelos said talks would resume this week. Officials from the Institute of International Finance confirmed the plan but said it would depend on “developments in the next few days.”
IIF officials and the Greek government have been trying to reach a consensus on a plan to voluntarily reduce the value of Greek bonds by 50% as part of a deal announced in October. The deal would amount to €100 billion and help reduce the nation’s debt load to 120% of economic output by 2020.
The private sector’s role in restructuring Greece’s debt, and its willingness to accept the bond haircuts, are key conditions of the planned second bailout package for Greece from the European Union and the International Monetary Fund.”
