Greek rescue may cost banks even more

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BRUSSELS — Private investors in Greek bonds would need to accept losses of at least 50 percent to stabilize Greece's finances, according to a joint European and International Monetary Fund analysis that has put bankers and politicians at loggerheads over how to bail out the country once and for all.

The contribution is more than double what a banking industry group agreed to over the summer. But Greece's cratering economy and public opposition to more taxpayer-supported loans is putting pressure on private investors to fund a growing gap in the country's rescue program.

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Philip Kennicott 21 Oct, 2011

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Source: http://feeds.washingtonpost.com/click.phdo?i=5af3d51af9a7823382ce5672bb499de7
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