Argue about the details all you want, but there’s no doubting the need for debt relief, and quickly.
Ever since Greece’s privately held debt was restructured in 2012, the country’s public creditors have diligently avoided discussing the subject of debt relief. Until now. On May 24, the 18 eurozone finance ministers, known as the eurogroup, will convene to consider reducing Athens’s debt load. It’s a start, but to be effective the eurogroup will need to do much better than what they’re currently prepared to offer.
