Troika sees a 60% haircut

Troika considers a haircut wider than 50% of the nominal value of our debt to be a necessary condition!

As broadcast by the Bloomberg agency, which reportedly has a copy of the official Troika report on the sustainability of the Greek debt - the one that is being presented right now at the Eurogroup - the Greek economy is in urgent need of a haircut of the debt even at 60% in conjunction with the provision of additional "official financing", ie state loans.

This is deemed a necessary condition for reducing the debt to below 110% of the GDP by 2020. The Bloomberg report states: "The Greek debt will decline to slightly over 120% of the GDP by 2020 with a 50% haircut, a 6% interest rate and without guarantees."

In any case, the Troika report concludes that "greater participation of individuals in the restructuring plan for the Greek debt is crucial".