The American Empire in a Changing World


Friday, July 27, 2012

''ECB may take losses in second Greek debt restructuring''

From Ekathimerini

''European policymakers are working on «last chance» options to bring Greece's debts down and keep it in the eurozone, with the ECB and national central banks looking at taking significant losses on the value of their bond holdings, officials said.

Private creditors have already suffered big writedowns on their Greek bonds under a second bailout for Athens sealed in February, but this was not enough to put the country back on the path to solvency and a further restructuring is on the cards.''

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