While Greece negotiates terms for private holders of its debt to exchange current paper for bonds with face values of about 70% lower, eurozone finance ministers may dictate what those bonds can pay in interest.
Private debt negotiators say they expect new paper to carry coupons of over 4%. The Greeks may be tempted to take this to remain out of default. The matter much be settled for Greece to get its next aid installment in March.
Apparently, France and Germany will block any agreement in which Greece pays much more than 3% on its bonds. These countries believe that Greece cannot afford more. In the next few days, the battle between the region’s most economically powerful nations and the bondholders could determine the chances of a Greek default
Top Gaining Stocks
Top Losing Stocks