Isn’t that what the Germans are doing by adding new conditions to Greek aid deal? Didn’t the EU agree weeks ago what the conditions of the Greek austerity program would be and what the fall-back position would be if it was unable to finance itself despite best efforts? I think so.
No wonder markets have been trashing Greek debt and the Euro… Look for it to continue…
For Greece’s part, the FinMin says Greece will not restructure its debt. A restructuring would require current debt holders to extend maturities, receive lower interest rates, less than 100 cents on the euro or some combination of the above…
