Monday, October 24, 2011

Debt reduction plan for Greece

Greece Aims to Include All Sovereign Bonds to 2035 in Debt Plan

Greece’s government aims to include all sovereign bonds maturing up to 2035 in talks underway in Brussels to reduce the country’s debt burden, a Greek government official said today on the condition of anonymity...
The total amount of debt that is now being considered in the debt reduction plan is 205 billion euros, the official said. Greece is also seeking longer maturities and lower interest rates on the bilateral loans to be included in a new financing package, he said.
Comment: For too long a time, more screaming and lamenting has been going on than is warranted. It's time to stop and move on. The euro won't fall apart, Greece won't leave the euro zone.

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