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01/28/2021

Liberty Pulse

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Greece Aid May Not Be Enough To Avoid a Default: Analysts

1 min read

Greece Aid May Not Be Enough To Avoid a Default: Analysts

European policy makers say a Greek debt restructuring is not an option, but economists and some politicians are starting to suggest it may have to be part of the solution to Greece’s debt crisis.

Greece’s refinancing needs for the next three years total some 112 billion euros in terms of redemptions and interest, and continued deficit financing would raise that to 138 billion, estimates Colin Ellis, European economist at Daiwa Securities.

With Greece frozen out of the debt markets, euro zone governments and the International Monetary Fund are discussing terms of a three-year bailout package of emergency loans which might total between 90 and 120 billion euros.

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