Europe's Woes Put Debt Shake-up Back on the Agenda |
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January 10, 2010
For some analysts, the prospect of an indebted eurozone nation having to restructure its debts has become as certain as death and taxes.
For some analysts, the prospect of an indebted eurozone nation having to restructure its debts has become as certain as death and taxes.
With Portugal the focus of bail-out speculation and financial markets pricing in a better than evens chance of Greece defaulting in the next five years, the question being asked is where, when and how a restructuring might occur.
The fear of losses, and the uncertainty surrounding future bail-outs, is driving yields on some eurozone sovereign bonds higher. Analysts believe that, even after Greece’s €110bn rescue in May, it is likely to be the first eurozone nation to have to renegotiate repayment of its debts.
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