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FACTDROP: Greece Needs 60% Discount on Bank Debts to Cut Ratio to 110%, Troika Says
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10/21/2011

Greece Needs 60% Discount on Bank Debts to Cut Ratio to 110%, Troika Says

Πηγή: Bloomberg
By Brian Parkin and James G. Neuger
Oct 21 2011

Greek debt would fall to just above 120 percent of gross domestic product by 2020 by using 6 percent discount bonds with 50 percent discounts and no collateral, the European Commission, International Monetary Fund and European Central Bank said.

It would take a 60 percent face value reduction and more official financing to cut the debt below 110 percent of GDP by 2020, according to the report, which was obtained by Bloomberg News.

“The ECB does not agree with the inclusion of these illustrative scenarios concerning a deeper PSI in this report,” according to a footnote.


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