by Bill McBride on 2/20/2012 10:01:00 PM
Monday, February 20, 2012
Reuters (via Peter Spiegel) Euro zone finance ministers strike deal on second Greek package. Financing of 130 bln euros, debt-to-GDP of 121 pct by 2020
Update: From Reuters: Euro zone strikes deal on second Greek bailout package
Euro zone finance ministers struck a deal ... that includes new financing of 130 billion euros and aims to cut Greece's debt to 121 percent of GDP by 2020, two EU officials said.Press conference soon
"The financial volume (of the Greek package) is 130 billion euros and debt-to-GDP (will be) 121 percent. Now it's down to work on the statement," one official involved in the negotiations told Reuters.
Private sector holders of Greek debt are expected to take losses of up to 53.5 percent on the nominal value of their bonds as part of a debt exchange that will reduce Greece's debts by around 100 billion euros.
EU Press Releases (no statement yet)
Posted by Bill McBride on 2/20/2012 10:01:00 PM