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Greek Debt Talks Could Resume Next Week

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By Paul Ausick Published
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As part of the Eurozone’s efforts to help Greece get out from under its massive debt, the European Central Bank (ECB) and the IMF have proposed that creditors take a haircut of up to 50%. That may not be enough to help the country pull through its continuing debt crisis.

Negotiations between Greece and its creditors have been suspended, but could pick up next week according to a report in The Wall Street Journal. The IMF has been adamant that any deal result in a Greek debt-to-GDP ratio of no more than 120% by 2020. Greek debt is currently about 140% of GDP.

A haircut of up to 60% has been proposed, but the IMF does not believe that will be enough to meet the target. Greece is seeking a euro130 billion aid package to provide it with the funds it needs to meet debt payments due in March. That package is threatened by the lack of an agreement with creditors.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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