Market Watch – Jan 27, 2012

Posted on January 27, 2012 by b.keylock

Big Picture

Greek debt talks hit snag; U.S. may ease

Greek debt-restructuring talks hit an impasse on Tuesday as private sector creditors pushed for a higher interest rate on the new bonds, arguing they are already taking a 50% write-down on existing bonds worth US$265-billion. A debt restructuring agreement is a precondition for Greece to receive its next installment of aid to stave off bankruptcy. The IMF cut its forecast for global economic growth to 3.3%, from 4%, in 2012 and warned the European crisis could tip the world into recession if decisive action is not taken soon.

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