Apr 6, 2011
4:00:00 PM
| Last Updated
Over the weekend there were reports (see below)—which have been officially denied—that behind the scenes, IMF officials were rethinking their policy on a possible Greek debt restructuring.
In RGE’s view, a Greek debt rescheduling is inevitable, as we have argued repeatedly over the past year (see below for a list of relevant analysis). We put a high probability on a preemptive exchange offer (at par with longer maturities and a below-market coupon rate) occurring as early as 2011.
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