Kicking the Can, Berlin Style
For all of the bravado and apparent brinkmanship, Germany appears to have backed down in its demands for private investors holding Greek bonds to share financial burden of a financial restructuring. Instead Ms. Merkel claims that it would be sufficient to have debt holders volunteer to roll over maturing debt.
Source: http://blogs.forbes.com/greatspeculations/2011/06/17/kicking-the-can-berlin-style/
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