Sunday, April 25, 2010
For Greece, Restructuring Is No Longer Unthinkable
This is an article from a series of articles covering the ongoing crisis Greece has been in. Experts are now saying that not only can Greece restructure its debt and not default on paper but that they actually will be able to restructure. Total government debt was $365 billion at the end of 2009 which is 115% of GDP. The best way politicians feel Greece can restructure its debt is to allow to repay this debt over a multi-year period.
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It is good to hear that they were able to configure a solution for Greece's situation. It is also scary to see Greece with such a large debt of $365 billion.
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