Greece is likely to cut or delay payments to bond investors

By Matthew Brown

April 22 (Bloomberg) -- Greece is likely to cut or delay payments to bond investors even as the country negotiates a bailout package with the European Commission and International Monetary Fund, according to Goldman Sachs Group Inc.

“Look out for signs that the government might offer a voluntary debt-restructuring arrangement sometime over the next few months,” Erik F. Nielsen, chief European economist at Goldman Sachs in London, wrote in a report. “A large multi-year official rescue package combined with a voluntary debt restructuring would create a much longer breathing space for the government to undertake the necessary reforms.”Read more