Creditors agree to Greek bond deal
MsMorrisine
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Creditors agree to Greek bond deal
The monumental deal means Greece has cleared its final hurdle to qualify for the €130 billion bailout program from the European Union and International Monetary Fund.
More than 85% of private bondholders agreed to the deal, Deputy Prime Minister Evangelos Venizelos said in a statement.
The agreement, called the private-sector involvement, gives bondholders unattractive terms, experts have said. Investors who own Greek bonds could now see losses of up to 75%.
The monumental deal means Greece has cleared its final hurdle to qualify for the €130 billion bailout program from the European Union and International Monetary Fund.
More than 85% of private bondholders agreed to the deal, Deputy Prime Minister Evangelos Venizelos said in a statement.
The agreement, called the private-sector involvement, gives bondholders unattractive terms, experts have said. Investors who own Greek bonds could now see losses of up to 75%.
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read it to the bottom
I knew it would happen.
<< <i>Dated March 9, 2012. >>
but read to the end anyway. killer last paragraph.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey