FT Alphaville > Greek debt: restructured

…Did anyone notice this weekend’s Greek debt restructuring?

FT Alphaville -> Greek debt: restructured

Return to the Drachma?: Economists Warn Greece May Have to Quit Euro - SPIEGEL ONLINE

"Greece's debts are rising rapidly despite radical austerity measures. Now a group of leading European economists has warned that creditors might have to write off more than 30 percent of their loans. Greece might even have to reintroduce the drachma to overcome its debt crisis, they argue.

The European Economic Advisory Group (EEAG), a group of leading European economists, has warned that Greece may need another bailout by 2013 at the latest."

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New Worries About Portugal, Spain

Krækja: Return to the Drachma?: Economists Warn Greece May Have to Quit Euro - SPIEGEL ONLINE - News - International:

Axel Weber, the Last Man Standing: Europe’s reforms may come at a high price

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"The current crisis has challenged the founding principles of EMU. Still, EMU can emerge stronger and more resilient than before. To that end, the decisions on EMU governance have to reinvigorate rather than circumvent the basic principles of subsidiarity, responsibility of individual member countries, and no-bail-out as laid down at the launch of monetary union. This is an opportunity that must not be lost."

The writer is outgoing president of Germany’s Bundesbank

FT.com / Comment / Opinion - Europe’s reforms may come at a high price: