The False Economist

Sunday, January 23, 2011

Interesting Future for the EFSF

Here's two articles from the Finacial Times Alphaville blog discussing the recent rumours that the EFSF will be used by the EU to fund Greece buying back its own sovereign debt bonds on the secondary markets.

Note that RBS rates strategist, Harvinder Sian, is quoted as saying that this may only save the Greeks €12.5bn in debt costs, reducing it from 158% of GDP to 153%.

Interesting stuff considering Ireland may be moving in to this territory soon...

Weirdo Greek debt restructuring


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