Greek Finance Minister Describes Options: 20% Haircut, 50% Haircut, Disorderly Default

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Greek Financial Minister Evangelos Venizelos has told fellow socialists he sees three scenarios for Greece, according to Ta Nea via Bloomberg.

In the "good" scenario, Europe hands over the bailout money along with a 20% writedown for bondholders.

In the "better" [second best] scenario, the bailout accords fall apart and Greece enters an orderly default with 50% haircuts.

In the "bad" scenario, the bailout accords fall apart and Greece begins a disorderly default.

This isn't an official position, however, and a government spokesperson has dismissed report, according to Reuters.

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