Voluntary 60% haircut ‘not enough for Greece’
The 60% write-down on Greek debt that is rumoured to have been proposed to lenders by the eurozone will not go far towards solving the country’s debt burden if it is only voluntary for banks, a credit analyst told EuroWeek Bank Finance.
The Institute of International Finance said on Monday night that talks in Brussels were continuing over potential changes to the private sector involvement plan laid out in July, which proposed a voluntary 21% net present value write-down on Greek sovereign debt holdings.
The haircut figure now under discussion
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