One Way or Another, a Greek Debt Write-down Will Happen

Whatever deal is, or possibly is not, cooked up for Greece, there is an important point to remember: the country’s debts, standing at £235bn, or about 180% of GDP, are unsustainable. One way or another, a debt writedown will have to happen at some stage. Barring a miracle, it won’t be part of the current package. This has been easy to forget as the euro circus has travelled between Athens, Berlin, Brussels and Riga in recent weeks and months.



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