Discussions of how to bail out of Greece have turned rapidly to what kind of write-off investors may have to take on Greek debt as the International Monetary Fund and European Union prepare to make another set of loans to the southern European country. Germany says that investors should not be affected at all. But many opponents do not see how any new loans cannot be accompanied by a drop in the value of Greek paper. According to Reuters:
Without agreement on how to reduce the debt, euro zone ministers and the IMF do not want to resume payments of loan tranches to Athens — even though Greece has met all the conditions — because they have no guarantee on whether the need for emergency financing will ever end.
The key question is: Can Greek debt become sustainable without the euro zone writing off some of the loans to Athens?
Douglas A. McIntyre
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
