EU Reaches Deal on Greek Bonds

October 27, 2011 by admin · Leave a Comment
Filed under: Economic Outlook 

This morning, European leaders reached a deal with Greek debtholders at a summit of eurozone leaders that would see private investors take a 50% cut in the face value of their bonds. It is believed that this cut will reduce Greek debt levels to 120% of GDP by the end of the decade.
The agreement includes a new €130bn bail-out of Greece by the EU and the IMF.

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