Greek Debt Swap Negotiations Face ‘Critical’ Phase This Week

Greek Debt Swap Negotiations Face ‘Critical’ Phase This Week

Kostas Tsironis/Bloomberg

European officials and the nation’s creditors agreed in October to implement a 50 percent cut in the face value of Greek debt by voluntarily exchanging outstanding bonds for new securities, with a goal of reducing Greece’s borrowings to 120 percent of gross domestic product by 2020.