Greek Woes Spur Tough Options

BY CHARLES FORELLE

A senior International Monetary Fund official said Thursday that debt restructuring would provide no miracle cure for Greece's debt crisis, as a delegation of European and IMF officials continued to pore over the Greek government's finances in Athens.

The delegation is in the Greek capital to examine whether the country's tough economic program is still on track and whether its financing plan is sustainable. Their agreement is needed before they release another slice of funds next month from a €110 billion ($157.8 billion) rescue package agreed upon a year ago.

But public- and private-sector analysts agree that the €110 billion ...

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New Greek Debt Risk: Word Games

BY MATT PHILLIPS

Euro-zone governments are undecided over what to call any possible Greek debt workout, offering alternatives like a "soft restructuring," or a "reprofiling" of the nation's debt load.

For buyers and sellers of billions of dollars of credit-default swaps on the Hellenic Republic, it's more than mere semantics.

Such terminology will play a part in whether sellers of these insurance-like contracts will have to cough up payouts. And with few precedents in the relatively recent history of the sovereign credit-default swap, or CDS, market, how Greece plays out will be a major milestone.

"I think it's going to be a critical ...

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Greek Debt Talks Widen Divisions in the Euro Zone

BY MARCUS WALKER

BERLIN—Divisions in the euro zone are deepening over how to handle Greece's suffocating debt burden, with German officials open to a voluntary restructuring of Greek bonds but a majority of euro-zone policy makers fearful of the consequences.

Europe's line has been that Greece will slash its outlays and repay all of its debts. But investors and, in private, some European governments increasingly doubt the country can. In that case, Greece will need more aid and, many believe, will have to restructure its debts.

The debate in the euro zone is about whether and how to restructure. German officials believe Greece ...

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