Greece completed a crucial debt swap with private creditors on Thursday, clearing the way for the country to substantially lower its debt burden and moving it closer to receiving a badly needed second official bailout, according to media reports.
Bondholders representing some 85% of Greece’s outstanding private-sector debt, well above the government’s minimum threshold, have signed up to take part in the swap, according to the reports. The high rate of participation will allow Greece to force any holders of bonds regulated under Greek law to participate in the swap.ON TO THE NEXT HURDLE...
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1 comment:
"Dumb....Dumber?"Donations to Greek State Reach 5 Million Euro,money was used buy back Greek bonds who undergo a 70 % “haircut”.
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