Greece Sees 50% Debt Write-Off in Orderly Default, Ta Nea Says

Greek Finance Minister Evangelos Venizelos told members of the ruling party that he sees three possible outcomes to the debt crisis, including one that involves an orderly default with a 50 percent loss for bondholders, Ta Nea said, without citing anyone.

Venizelos outlined “good, bad and better” scenarios to lawmakers with the “good option” involving the implementation of the July 21 accord for a second financing package, which projects a 20 percent loss for bondholders, the Athens-based newspaper said.