Thursday, May 19, 2011

What is debt 'reprofiling'?

by Laurence Knight

BBC News

May 19, 2011

For the first time, the European negotiators sitting down with the Greek government have raised the possibility of tinkering with Greece's debt repayment terms.

Jean-Claude Juncker, head of the eurozone group, has conceded that a "kind of reprofiling" is on the table, although there was no question of a "large restructuring".

But what exactly does "reprofiling" involve, and why is this the only option that European leaders are - at least for now - seemingly willing to consider?

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