Charles Dallara, a Bush 1-era Treasury official who helped engineer the LatAm bailouts of the 1980s, says the Frencg proposal on rolling over Greek debt may form the basis for an agreement with private creditors.
According to Bloomberg, half the Greek debt held by banks and insurance companies maturing in the next three years would be swapped for 30-year bonds Another 20% would be held in a special-purpose vehicle as collateral for the banks.
