Is Europe Making a Comeback?

Posted on Jan 31, 2012

AP / Michael Probst

Once again, European leaders convened for a eurozone pep rally on Tuesday, meeting up in Brussels to see if their economic resuscitation efforts in recent months are paying off and if Greece will stop hogging all the attention anytime soon.

Bloomberg Businessweek’s David Tweed shared some of his thoughts and strategies as the summit started.  —KA

Bloomberg Businessweek:

First we need the private holders of Greek debt to sign an agreement to write down the value of their holdings that doesn’t trigger a messy default that Josef Ackermann of Deutsche Bank (DB) told my colleague Caroline Connan in Davos would have dire consequences ... .

[...] After that Greece should get its next allotment of European Union and International Monetary Fund cash so that it can make its €14.5 billion bond repayment scheduled for March 20. Whether Greece’s remaining debt load is sustainable is likely to haunt us into the second quarter.

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