Greece failed to agree with private lenders on debt cut

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Source: Forexfactory
Greece failed to find a consensus with its creditors during lengthy talks resumed on Wednesday, reported IIF. The contrary is under pressure as it has to agree with private bondholders, who hold large amount of Greek bonds, on voluntary cut of the debt by 50%. Officials from troika also support the reduction of Greek's bonds. In case the agreement is not reached, the country may forfeit EUR130bn worth bailout package, the only possibility to avoid a default on debt repayment due on March.


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Thu, 19 Jan 2012 09:26:49 GMT

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