Debt-for-equity swaps offer Greece a better way

Peter Allen, Barry Eichengreen, Gary Evans 28 February 2014

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Last week, Eurogroup finance ministers in their wisdom decided that there would be no debt relief or restructuring for Greece until the end of the summer. Evidently they wish to avoid exciting voters in the European Parliament elections in May. This is regrettable, since it only puts off the inevitable and forces the Troika to use smoke and mirrors to fill the government’s funding gap.

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Topics:  EU institutions International finance

Tags:  Greece, greek crisis, Greek debt, debt-equity swaps