Greek Bond Holders May Face 70% Lose
After weeks of back and forth between Greece and private investors represented by the IIF, a deal for the private investors to participate in a restructuring of the nations paper may be near. And, the results for private investors will be catastrophic. EU…
After weeks of back and forth between Greece and private investors represented by the IIF, a deal for the private investors to participate in a restructuring of the nations paper may be near. And, the results for private investors will be catastrophic. EU nations have pressed for the bondholders to take yield on new paper at a 3% or so level. The investors have pressed for 4%. The threat, of course, is that EU nations will not help Greece, and the private investors will get nothing.
Investors participating in a deal to slash Greece’s massive debt would face an overall loss on their bond holdings of more than 70 percent, a person involved in with the negotiations said early Tuesday.
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