Greece Backs Down from Debt Writedown, Haircuts Avoided
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E-mailGreece backed off from its call for a debt writedown, according to reports from Bloomberg. Finance Minister Yanis Varoufakis outlined plans to swap some Greek debt owned by the ECB and EFSF for new securities. The move also avoids a formal haircut on creditors, sources told the news agency.
In the US, futures are indicated higher. Traders are also watching action in the Forex and Bond markets.
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