129784668153022500_218 tera power levelingP: Greece may need further debt restructuring
Greece has completed replacement of bonds under the laws of that State, but delayed the replacement of parts under foreign law, and has three extension, and a number of foreign law under Greece debt will be due next month. Greece Ministry of finance and banking industry officials said, according to the European Union (EU) and the International Monetary Fund (IMF) requirements, Greece Government in any case must be decided as soon as possible, becauseExpires on May 15 will have 450 million Euro bond.
If we can complete most of the debt Exchange plan
tera power leveling, Greece will be provided by the EU and the IMF in March promised new aid money and help ease the worries about euro-zone debt crisis, at least for the time being. International rating agency standard and poor's (hereinafter referred to as "p") in Greece on March 12Evaluation of new bonds issued by a group identified as the CCC.
P Europe, Middle East and Africa (EMEA) sovereign ratings Director Craemer (Moritz Kraemer) recently said that p's CCC rating is "extremely low ratings", "means that we believe that there may be further debt restructuring". Craemer, explained that thisRisk is because of crisis management, particularly in terms of debt repayment priority: "more and more official creditors begin to jump the queue in front of private creditors, we have the International Monetary Fund (IMF), now a European stabilisation mechanism (ESM), the European Central Bank (ECB), especially for Greece, occupied by official creditors in the debtShare a growing private sector creditors continue to be squeezed to the last. This means that as soon as Greece debt restructuring again, official creditors will receive priority payment, risks of private sector pay raises. "At the same time, Craemer also pointed out that Greece has gone far beyond the macro-level of risk in the future, leading Greece into a social crisis:" the GreekLa youth unemployment is as high as about 50%, who could not find work, there is no hope, and this has changed the social nature, has changed the nature of political, changed Greece facing social policy choices. "Craemer believes that in addition to a series of austerity measures, Greece should find a way to restore economic growth and social stability, which for GreeceStatement remains a formidable challenge.
Therefore
tera gold, a new round of debt restructuring, "Although it is difficult to say when, but may occur at some point in the future". Rating agencies in the role of the European debt crisis, Craemer believes that "sovereign credit rating agencies to view gives the possibility of default by a country, and that's it." For many years, pGreece downgraded is to send out such a signal �C Greece's credibility is deteriorating. He pointed out that the p Greece downgraded began in 2004 for the first time.
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