IMF says temporary Greek default likely if private participation in new bailout program
Jul 14th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
A temporary Greek default is likely if private bondholders voluntarily participate in a new bailout program that is currently being discussed, the International Monetary Fund said Wednesday. The IMF has pencilled in €33bn of private sector burden-sharing through 2014 and says such an approach is "appropriate."