According to statements by Eurozone policymakers and representatives of the banking industry, the European Union and lenders are now very close to an agreement about the two burning questions; how close the Greek ‘haircut’ should be and how the affected banks will be recapitalised.

The answers being touted now indicate that Athens will see its debt obligations towards the private sector, aka banks, cut by almost 50% and this will also include bonds maturing after 2020. ...

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