Independent report on the Greek official debt

CEPR Policy Insight No 92

Emilios Avgouleas, Barry Eichengreen, Ugo Panizza, Miguel Poiares Maduro, Richard Portes, Beatrice Weder di Mauro, Charles Wyplosz, Jeromin Zettelmeyer

Greeceā€™s third economic programme has been relatively successful, but before it can return to private market financing, the country will require more official debt relief. This Policy Insight asks how much debt relief is required and how it should be delivered. Any debt relief package for Greece that wishes to avoid shifting the burden of repayment several generations into the future will need to include some degree of face-value debt relief.