Greece – Back From the Brink? | WHAT REALLY HAPPENED


Greece – Back From the Brink?

We recently pointed out in an article – "Grexit: The Footsteps Grow Louder ... Could the EU Blow Apart?" – that Germans might be very unhappy with a rescheduling of Greek debt. But that looks like what is happening.

The proximate mechanism is a proposal by Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis to "repay all the €315 billion old debt, but [as] growth-linked bonds that would pay their way only as the economy recovered."

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