The following is the assessment prepared by European Commission economists for discussion this Friday among European finance ministers. It is a “STRICTLY CONFIDENTIAL” document obtained by the FT that suggests private bondholders (i.e., banks) will be pushed to take 50 to 60 percent haircuts on their Greek debt holdings. It was distributed to eurozone capitals on Friday afternoon, just hours before finance ministers arrived in Brussels for a deliberation over Greece that lasted late into the night.
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