Negotiations for Greece's second bail-out have still not reached agreement. The previously agreed 50% haircut limit might be exceeded, depending upon the interest rate of substitute bonds which has not yet been agreed. Ideally the Greek debt restructuring negotiations should be completed well before the March 20, 2012, deadline for a Greek 14.4 billion Euro repayment, according to the Financial Times. The rescue will be difficult to achieve without unanimous agreement of every bond holder.
I acknowledge "Fund threatens to sue over Greek bond losses" published by the Financial Times.