''Greece’s Investors Reluctant to Take a Bath''

read more..........from greek reporter........

"Only a day after Greek officials said they were optimistic about reaching an agreement with banks and investors to write down as much as 50 percent of the country’s debt, reports said many are balking at the deal, which could jeopardize a second bailout of some $175 billion the country needs to stave off default. Greece is surviving on a series of $152 billion in rescue loans that haven’t been enough to keep the country from teetering on the edge of bankruptcy and desperately needs another infusion of cash, but banks and other investors now say they don’t want to forgive some $130 billion of what Greece owes. European and Greek negotiators met with representatives from banks and investment funds on Dec. 16 in Paris, after holding talks earlier this week in Athens and were trying to work out the terms under which private creditors are willing to exchange their existing Greek bonds for new ones with a lower face value."