European finance ministers meet tomorrow to hammer out a new Greek bailout package watertight enough to avoid triggering a default that German Chancellor Angela Merkel said would be uncontrollable.
Officials must figure out how to design a plan that will encourage investors to roll over expiring Greek debt after Merkel yesterday ended a standoff with the European Central Bank over restructuring the country’s debt load. Talks will start at 6 p.m. in Luxembourg and continue the next day. EU leaders meet on June 23-24.
Bloomberg
