business

Greece likely to face systematic default: Lloyds Bank

With the clock ticking before the February 13 deadline to submit a final debt swap offer to private sector bondholders, the pressure on Greece is heating up. Greece needs to receive their next tranche of aid by March 20 to avoid default. A series of steps need to be taken before the bailout funds can be released once a PSI deal is announced.

first published: Feb 7, 2012 10:21 am