Wednesday, March 7, 2012

Eurozone nervous on whether private holders of Greek bond will accept deal

Business Times: Tue, Mar 06
EUROPEAN markets have become nervy again for several interrelated reasons.

First, there are fears that some hedge funds and other holders of Greek bonds will not accept the deal - the biggest sovereign debt restructuring deal in history - that will slash the value of their holdings by 70 per cent.

Private holders of 206 billion euros (S$342. 27 billion) in Greek bonds have until Thursday evening to decide whether to take part in a swap of current bonds for a package of new bonds at much lower interest rates...

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