Greek Writedown Won’t Cut ‘Unbearably High’ Debt, IfW Says

Greece’s creditors won’t help the country get a handle on its debt by taking losses on sovereign bonds, according to the Kiel Institute for the World Economy.

Greece’s debt load will be “unbearably high” even if public creditors join investors in taking 50 percent writedowns on the debt, the institute at the University of Kiel in northern Germany said in a study published on its website.