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Tuesday, July 19, 2011

Greece can restructure its debt without default

Greece can restructure its debt without default
 
The Greek government is on the knife-edge of solvency. Public debt is estimated to be around 160 per cent of the country’s gross domestic product, of which around three quarters is owed to foreign creditors.

We cannot be sure whether it can service its debts within the boundaries of political, social, and economic stability. But following from my previous article, I believe a route to Greek solvency is possible.


http://link.ft.com/r/3JFELL/GDDVQ2/FXWIVG/RNSXWX/4C0WJO/1G/h?a1=2011&a2=7&a3=19
 

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