Posted by: Skye Morley in Financial Help on January 20th, 2012
All around the globe, anxious markets are waiting to find out how the Greek crisis will play out. With every day, comes another media report of dire economic news – this something that didn’t happen or that something which did. It is now all rushing toward a March dénouement, when some €14.5 billion worth of Greek sovereign bonds are due to mature. It will either culminate with a bang or a bust, though quite a few economists are sure it will be the latter.
Right now, the negotiations between the Greek government and their private bondholders is at an impasse of sorts. Greece’s private creditors say they cannot “voluntarily” accept any additional losses even as they now consider taking losses of as much as 70%. Some economi