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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I find it interesting that now the media begins to report that Greece may be able to find a way out. It has been an ongoing crisis and one that was reported as if it would linger on for a longer time. I am glad that there is less negativity and that a solution is arising, just as in most economic "crises".
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