Los lideres europeos aceptarian el default de Grecia. Seria temporal y rebajarian los requisitos para los rescates mientras intensifican sus esfuerzos para resolver la crisis soberana que ya tiene 21 meses.
Euro-Area Leaders May Accept Greek Default
QBy Jonathan Stearns and Simon Kennedy - Jul 21, 2011 10:10 AM ET .
Euro-Area Leaders May Accept Greek Default Jock Fistick/Bloomberg
Euro-Area Leaders May Accept Greek Default, Ease Terms Kostas Tsironis/Bloomberg
Policy makers are meeting for the second time in a month in a bid to calm Greece’s financial distress and inoculate Spain and Italy from it.
Euro-area leaders may accept a temporary Greek default and ease the terms on bailouts to cash- strapped nations as they intensify efforts to resolve the 21- month sovereign debt crisis, officials said.
With Greece being charged about 35 percent to borrow for two years, heads of government meeting in Brussels may cut the interest rates on loans to it, Portugal and Ireland to about 3.5 percent and double the repayment period to at least 15 years. Europe’s main rescue fund may get the power to buy bonds from investors, help countries recapitalize banks and offer precautionary lines of credit to repel speculative attacks.
Policy makers are meeting for the second time in a month in a bid to calm Greece’s financial distress and inoculate Spain and Italy from it. Their previous crisis-fighting measures failed to placate investors and the sight of markets in turmoil this week drew calls for tougher action from the U.S. and International Monetary Fund.
Seeking to ensure bondholders contribute more to bailouts even if that risks a temporary default being declared, the policy makers considered a 90 percent swap of Greek bonds outstanding between now and 2020, said two officials familiar with the negotiations. The talks are focused on a default lasting just a few days, one said.
To contact the reporters on this story: Simon Kennedy