LGIM's Ben Bennett outlines three options for the debt-riddled country.
Eurozone meltdown is always a keen topic of discussion, so what has triggered this concern surrounding Greece? The initial Greek bailout 12 months ago assumed that Greece will be able to return to the bond markets in 2012. With Greek bonds still trading at distressed levels, this appears unlikely, and Greece will probably run out of cash at some point during 2012. As this date approaches, every Greek bond that matures is being refinanced with IMF and EU cash. This means that if (or when) Greece eventually defaults, these institutions are set to pick up the lion’s share of the bill. Wh...
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