The bond refinancing will happen in late March and early April. Let's wait and see whether it can refinace its debt at a much lower rate. Its current bond rate is not sustainable for its treasury department.
Greece needs a growth rate of 5% to get out of its debt problem, but it will not be able to enjoy such high growth rate at all.
Greece should have been screened out from the Euroland in 2001. It entered Euroland through outrageous gov. finance misreporting and structured transactions through investment banks.
