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120b euros for Greece?

Posted By Peter Boockvar On April 28, 2010 @ 10:00 am In MacroNotes | Comments Disabled

There is talk that the package for Greece will total 120b euros over 3 years which would be much bigger than initially said a few weeks ago. With Germany struggling just to come to an agreement for giving its 8-9b euro portion of the 30b in total the EC said they will commit, its likely that the IMF will dramatically step up with their funding commitment. European bonds, particularly Greece, are rallying off their lows as, if true, the loans would keep debt restructuring talk at bay, for now.

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