Greek Sustainability Needs More Investor Losses, Troika Says

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Bondholders will need to take deeper losses on Greek holdings to make the country’s debt sustainable, according to a report on the country’s finances by international creditors.

The financial situation in Greece “has taken a turn for the worse” since the last review in June, said the report of the so-called troika dated today. The previous assessment led to a July agreement that called for investors to take a 21 percent reduction in their holdings’ net present value.