The Greek Tragedy

Kokkoris, Ioannis; Olivares-Caminal, Rodrigo; Papadakis, Kiriakos
September 2010
Journal of Banking Regulation;Sep2010, Vol. 11 Issue 4, p257
Academic Journal
The author reflects on the financial crisis experienced by Greece due to its outstanding debt as well as the possible measures that could help the country to repay its debts. An overview of the present condition of the country is presented wherein Greek has a total nominal debt of 298.5 billion Euros or a 115 percent debt in gross domestic product (GDP) ratio. The author contends on the need to restructure debts through an exchange offer of debt maturity extension and interest rates reduction.


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