Get Ready For A Greek "Reprofiling"

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Photo: www.lightmatter.net

The latest on Greece comes from Channel 4 (UK) economics reporter Faisal Islam.A late night meeting of Euro leaders in Brussels seems to be leading towards a lengthening of Greek debt repayments, though no fundamental change in how much the country owes.

In other words, probably more can-kicking. As Faisal Islam puts it: This would change the “structure” of Greece’s national debt, but would fall short of “restructuring”. Euro ministers appear to be settling on the concept du jour: “reprofiling”.

Meanwhile, yields on Greek 2-year bonds are now just below 25%

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