As many observers have expected private holders of Greek debt may not agree to a final write down settlement for the value of their Greek sovereign paper. It has been assumed that both these investors and eurozone nation members would participate in a rescue of the southern European country. It has also been assumed that most European nations would rather take on a larger burden if global capital market investors demurred. Up until now, it was hoped that private holders would take 50% of the value of their bonds.
Reuters reports that
Talks about private sector creditors paying for part of a second Greek bailout are going badly, senior European bankers said on Wednesday, raising the prospect that euro zone governments will have to increase their contribution to the aid package.
Now the question becomes whether Germany, the de facto bank of the EU, will agree to put much more money into a rescue
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