—ΤΙ ΘΑ ΑΠΟΦΑΣΙΣΟΥΝ ΑΥΡΙΟ—

The bondholder
Συγνωμη για τα αγγλικα.
According to the latest leaks ahead of the EZ finance ministers meeting tomorrow, the EZ is considering the following.
• To decide on financing requirements for Greece through 2014 (ie after Mrs Merkel’s elections in September 2013), and not 2016;
• E44bn will be provided to Greece in one lump sum (on December 5th), a part of which will be used to buy back bonds from the private sector. The German’s have suggested at a 75% discount is applied on half of the outstanding private sector debt;
• There will be no additional money for Greece to finance the funding gap;
• Interest rates on existing bail out funds will be reduced (materially). Those reduced rates will apply to Ireland and Portugal, as well;
• A moratorium (until 2032) on loans provided to Greece is being considered strongly;
• The EFSF/ESM will have significant control over the spending of bail out funds;
• The IMF and the EZ continue to disagree over debt sustainability