Bondholders Walk From Greek Talks–Institute for International Finance
http://platform.twitter.com/widgets/hub.1326407570.htmlThe Institute for International Finance (IIF) said its members who have been negotiating with Greece about bailout terms have left the table. “Under the circumstances, discussions with Greece and the official sector are paused for reflection on the benefits of a…
http://platform.twitter.com/widgets/hub.1326407570.htmlThe Institute for International Finance (IIF) said its members who have been negotiating with Greece about bailout terms have left the table.
“Under the circumstances, discussions with Greece and the official sector are paused for reflection on the benefits of a voluntary approach,” said the statement, emailed to Reuters.
If the decisions are not voluntary, they could trigger default provisions in the sovereign debt instruments. Firms which insure the value of Greece’s debt would subsequently probably have to make large payouts.
Greece and its eurozone neighbors continue to struggle with which lenders will take the majority of the risk in a bailout in the event that a default occurs later in the cycle of the country’s bond refinancing.
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