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Like any other war this is an expensive business: costs of £435 in fees, consultancy and propaganda for each house, high sums in debt write-off, around £800m lost per year plus CAP funding for negative equity and the extra grants paid by the Treasury for Almos.
Nor will they accept another debt write-off.
This equates to a debt write-off of about €100bn.
Both will need more bail-out money (or a debt write-off) in the coming months.
Ultimately, almost everyone believes the stricken country will need a renewed debt write-off.
The debt write-off has to be larger – probably at least 50%.
negotiating a debt write-off with banks.
However, Germany has warned against any unconditional debt write-off.
Across the eurozone, governments oppose a debt write-off for Greece.
In 2011 it turned a 40m-euro profit thanks to a debt write-off.
A 'tranche transfer' would not be a debt write-off.
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