The Greece debt problem is getting all the attention again. The argument for restructuring is getting louder. There are both positives and negatives on restructure. The negatives are obvious. They will hit financial market hard and it may spread to other PIIGS countries. The positive is that
Greek people will get some relief and introduce some risks to bond holders (they are having free lunch for too long).
The reality is EU will delay this decision as much as it could. Do not expect any new bailout package or restructure any time soon. My guess is some decisions will be forced upon at the end of this year.
The market is ahead of itself right now.
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