Ad
The EU will keep funding Greece until it can sustain itself (Photo: aranjuez1404)

Greece to face 'restricted default' as bailout details emerge

Greece is to face a 'restricted default' due to the voluntary participation of the private sector in its second bailout, credit ratings agency Fitch said Friday, one day after eurozone leaders agreed on a €109bn rescue package.

"Fitch considers the nature of private sector involvement to constitute a restricted default event," the agency said in a statement confirming the warning made by the European Central Bank ahead of the deal sealed on Thursday night, after Germany insisted that ba...

Get EU news that matters

Back our independent journalism by becoming a supporting member

Already a member? Login here
The EU will keep funding Greece until it can sustain itself (Photo: aranjuez1404)

Tags

Ad
Ad
Ad