New York Times
July 18, 2011
With European leaders poised to hold crucial talks Thursday in what one diplomat called “the euro zone’s ultimate Cinderella moment,” officials on Monday were discussing elements that might prove essential to a second bailout of Greece, including the new idea of a special levy to ensure that banks share part of the cost.
The package emerging for discussion on Thursday is likely to have as its aim the reduction of the debt burden on peripheral euro zone countries. It would achieve that by including a buyback of Greek bonds and lowering the interest rate on bailout loans for Greece, Ireland and Portugal.
But the issue of how to ensure that the private sector makes sacrifices, seen as essential in Germany and the Netherlands, has proved the biggest obstacle and remains unresolved, according to diplomats and officials briefed on the discussions but who were not authorized to speak publicly.
More
No comments:
Post a Comment