The EU Economic and Monetary Affairs Commissioner Olli Rehn, disussed an option for some rescheduling of Greek debt according to the Vienna initiative and put one limit:
Maturities on Greek debt could be extended on a voluntary basis as long as this does not create a credit event, the EU’s top economic official said on Monday, referring to the bloc’s efforts to limit market repercussions.
The leaders continue playing with words. A solution isn’t near yet. See the EUR/USD forecast for news on the Euro.