Greece Seeks Third Debt Restructuring: Who’s on the Hook?
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Greece’s anti-bailout governing coalition wants to reduce the country’s debt burden. Who’s on the hook if they succeed?
Prime Minister Alexis Tsipras has pledged to repay in full obligations to the International Monetary Fund and the European Central Bank. Finance Minister Yanis Varoufakis outlined plans to swap some debt into new securities and link repayment with economic growth. Both have said private investors won’t be asked to shoulder additional losses after taking the hit in two restructurings since the start of the euro financial crisis.