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.
Capital investment depends on confidence. - Martin Armstrong