EU Officials to Discuss Greek Plan That Skirts Default Risk
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European finance ministers meet today to hammer out a new Greek bailout package watertight enough to avoid triggering a default that German Chancellor Angela Merkel says would be uncontrollable.
Officials must figure out how to design a plan that will encourage investors to roll over expiring Greek debt after Merkel on June 17 ended a standoff with the European Central Bank over restructuring the country’s debt load. Talks start at 6 p.m. in Luxembourg and continue tomorrow. EU leaders meet on June 23-24, where Spanish Prime Minister Jose Luis Rodriguez Zapatero expects a “political commitment” to aid Greece.