Four EU finance ministers have rejected what private bond holders of Greek debt have termed their "best offer" and must now work rapidly to craft a deal between the Greek government and their creditors in order to avoid a catastrophic default.
Reuters:
Euro zone finance ministers on Monday rejected as insufficient an offer made by private bondholders to help restructure Greece's debts, sending negotiators back to the drawing board and raising the threat of Greek default.
Read more: http://www.americanthinker.com/blog/2012/01/negotiators_for_greek_debt_deal_back_to_the_drawing_
board_as_deadline_looms.html#ixzz1kTBqyR3E
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