Thursday, 23 February 2012

Greece : Bail and Downgrade - Default 'highly likely in near term..'

Greek_bail_out

http://www.moneymarketing.co.uk/1046686.article? 

'...The downgrade follows confirmation of Greece’s second bailout package, which includes debt restructuring that will see bondholders hit with a loss of the country’s government debt.

Creditors face a 53.5 per cent haircut on the value of Greek government bonds under the terms of the private sector involvement exchange offer. Fitch says this means an effective default by Greece is “highly likely in the near term”.'


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