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Open Europe 7 Tufton Street London http://openeurope.org.uk
Contact Mr Mats Persson +44 20 7197 2333
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Open Europe

EU banks could need up to €370bn in event of painful, but necessary eurozone debt restructuring

(PresseBox) (London, )
The window of opportunity for stabilising, or even saving, the eurozone is closing quickly. As EU leaders gear up for a series of key meetings this week, Open Europe has published a new briefing looking at the short-term options available to the eurozone for tackling the most immediate crisis.

Open Europe argues that Greece should default on 60% of its debt through a managed restructuring, and that the planned second Greek bailout should be scrapped altogether, replaced by a limited transition fund designed to control the default. This would radically reduce the burden on taxpayers. Portugal should simultaneously take a 26% tlvde-zssk yi tws hwyg.

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