Greece sees possibility of 50% haircut on debt-media
Greece's finance minister has told lawmakers he sees three scenarios to resolve the debt crisis, including one in which it obtains an orderly default with a 50%haircut for bondholders, Greek media reported on Friday.
Greece's finance minister has told lawmakers he sees three scenarios to resolve the debt crisis, including one in which it obtains an orderly default with a 50% haircut for bondholders, Greek media reported on Friday.
The other two scenarios would be a disorderly default or the implementation of a second, 109 billion euro ($146 billion) bailout plan agreed between Greece and its lenders on July 21, newspapers Ethnos and Ta Nea said, citing people who heard a speech given by finance minister Evangelos Venizelos.
Ta Nea, citing a person who heard the speech to lawmakers, quoted Venizelos as saying "it would be dangerous to request" the 50% haircut. He also said: "This would require an agreed and coordinated effort by many", the paper reported.