Saturday 13 October 2012

Restructuring, roll-over, moratorium

Article published in the Greek Economists for reform.
A Greek version was published by Kathimerini on the 13 Oct 2012. See also Greek Economists for Reform

In the next few weeks the ECB/EU/IMF Troika will deliver its report on the implementation progress and compliance of Greece. On the basis of this report the EU and the IMF will decide whether to release the jumbo instalment of 31.5 billion euros that was promised after the successful completion of the PSI. The Greek government on the other hand, wishes on the basis of this report, to get an extension or some easing on the implementation schedule. The aim is to increase its chances of survival given the precarious state of the government coalition and the presumed social reaction to the structural changes. Any easing could come from the rollover or restructuring of the Greek debt. Andreas Koutras examines the options available given the current state of the Greek debt and its schedule.