New bailout program for Greece Conditionality, implications for sovereign solvency and valuation of the Greek PSI deal(March 2,2012) | Eurobank
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New bailout program for Greece Conditionality, implications for sovereign solvency and valuation of the Greek PSI deal(March 2,2012)

The present document bundles together the three installments of a recently released Eurobank EFG Research study on the new €130bn bailout package for Greece that was officially endorsed at the February 21st Eurogroup. The first installment, titled “Eurogroup endorses 2nd bailout package for Greece’’, provides a detailed overview on the main parameters and conditionality of the new rescue program as well as an updated timeline of the key dates and events in the crucial weeks ahead. The second one, titled “The mathematics of the new bailout”, offers a quantitative analysis on the benefits of the new package for the country’s sovereign solvency outlook as well as the evolution of the government’s borrowing needs and sources of funding until 2020. Lastly, the third installment of our present study, titled “Valaution of the Greek PSI deal”, takes a close look at the terms of the debt exchange offer....