Greek bailout talks collapse

Athens one step closer to full-scale default


Negotiations on how to restructure Greece’s oversized sovereign debt unexpectedly collapsed on Friday, increasing the likelihood that Athens will become the first government of a developed economy to default on its debt in over six decades, the Financial Times reports. Lead negotiators for holders of Greek government bonds wrote in a statement that not all parties could agree on the latest offer made by Athens. The note is believed to be a reference to the fact that a proposed second Greek bailout worth $130 billion would require Greek bondholders to accept losses amounting to well over 50 per cent of the face value of their bonds.

Financial Times

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Greek bailout talks collapse

  1. So.. what’s the reasoning of the bondholders here.. We’d rather take no money at all than 50%, or do they just think that the Eurozone really won’t let Greece fall and they’re hoping playing hardball will get them more?

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