Greek debt returns to economic centre stage

The continuing crisis with Greece's debt problems is set to return to centre stage once again today at the latest meeting of euro zone finance ministers.

Greek debt restructuring as a result of a second bailout package looks likely to be the key issue.

Last year it was agreed in principle by the EU that private lenders would voluntarily write off 50% of their loans to Greece.

However, those same private creditors have yet to agree to the terms of the deal.

Greece faces a looming deadline to pay back 14.5billion euros in maturing bonds in March.

To do this, the Greek government needs ensure it receives a proposed 130billion euros rescue package.

If it does not and Greece defaults on its debts, the euro zone crisis could worsen once more.


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