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| Deadline ends on Greek bond swap deal San Jose Mercury News By DEREK GATOPOULOS AP A pedestrian looks a sign in a shop reading: ''One euro, price haircut'' in Athens on Thursday, March 8, 2012. Greece'srace to slice euro 107 billion ($140 billion) off its national debt entered the final stretch Thursday, ... See all stories on this topic » | ||
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| 'Gray Market' Crops Up for New Issue of Greek Bonds Wall Street Journal By KATY BURNE Greece will give new bonds to private creditors under its proposed debt restructuring in exchange for old bonds. And while the newbonds don't exist yet, that hasn't stopped at least two dealers from trying to make a market in them. See all stories on this topic » | ||
| Gray Market Quotes Price On Greek Bonds That Don't Yet Exist Wall Street Journal By Katy Burne Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Greece will give new bonds to private creditors under its proposed debtrestructuring in exchange for old bonds. And while the new bonds don't exist yet, that hasn't stopped at least two ... See all stories on this topic » | ||
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| Eurozone clears first part of Greek bailout after bond swap Monsters and Critics.com Greek Finance Ministry officials said 85.8 per cent of private investors holding 177 billion euros in bonds issued under Greek law signed up to the debt swap deal, or haircut, which will slash the country's 350-billion-euro debt by 105 billion euros. See all stories on this topic » | ||
| Greek Debt Swap Attracts 86% Participation; Linde Soars 5% 123Jump.com European indexes edged higher after Greece successfully completed thebond swap deal with 85.8% of its private bond holders agreeing to participate in the debt restructuring. Private investors agreed to take a 53.5% haircut of their existing Greek ... See all stories on this topic » | ||
| Greece secures biggest debt cut in history Albany Times Union Private investors holding some euro 95 billion ($125 billion) in Greek bondssaid Wednesday that they will participate in a massive debt relief for the struggling country, bringing Athens closer to avoiding default. (Thanassis Stavrakis / AP) Greek ... See all stories on this topic » | ||
| Greek haircut 'keeps show on the road' BBC News The Greek government has announced that more than 85% of its private creditors have signed up to join a multi-billion euro bond swap. The deal will see more than a €100bn of Greece's debt written off, but the creditors will take losses on their ... See all stories on this topic » | ||
| Deadline ends on Greek bond swap deal, government confident of high participation Newser A pedestrian looks a sign in a shop reading: ''One euro, price haircut'' in Athens on Thursday, March 8, 2012. Greece's race to slice euro 107 billion ($140 billion) off its national debt entered the... (Associated Press) Pedestrians pass outside the ... See all stories on this topic » | ||
| Greece secures high participation in bond swap Albany Times Union Private investors holding some euro 95 billion ($125 billion) in Greek bondssaid Wednesday that they will participate in a massive debt relief for the struggling country, bringing Athens closer to avoiding default. (Thanassis Stavrakis / AP) Greek ... See all stories on this topic » | ||
| High level of acceptance to haircut does not help the euro FXstreet.com As the Greek government announced this morning 85.8% of bond creditors agreed to the debt restructuring programme. That means the collective action clause (CAC) will be activated, which forces those investors who did not agree to participate. See all stories on this topic » | ||
| CANADA STOCKS-Greece hopes lift TSX to biggest gain in 2 weeks Reuters * TSX ends up 111.77 points, or 0.91 pct, at 12461.93 * Eight of 10 sectors stronger * BoC holds rates, outlook brightens * Greece moves closer to finalizing bond swap By Claire Sibonney TORONTO, March 8 (Reuters) - Toronto's main stock index closed ... See all stories on this topic » | ||
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| Greece clinches debt recast deal Hindu Business Line The Government was able to get 85.8 per cent of investors holding Greek debtsigned up to the bond swap programme, which will deliver a 53.5 per centhaircut on their holdings. This allows Greece to use a collective action clause to force other holders ... See all stories on this topic » | ||
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| WORLD FOREX: Euro Sheds Gains As Greece Creditors Forced To Take Haircuts Wall Street Journal By Alexander Martin Of DOW JONES NEWSWIRES TOKYO (Dow Jones)--The euro fell against the dollar and yen in late Asian trading Friday following an announcement that 85.8% of Greece's private sector creditors will participate in a massive debt swap deal, ... See all stories on this topic » | ||
| Greece: Avoiding a Disorderly Default Hemscott There is EUR 206 billion of Greek debt which is eligible for the swap, of which EUR 177 billion (Greek Government bonds or GGBs) is governed by Greek, rather than international law. The lowest acceptable threshold for bond holder participation set when ... See all stories on this topic » | ||
| Red faces over Greek deal talks Financial Times Mr Venizelos, who is supervising the debt swap, blasted the dissenters, saying they were letting Greece down at a pivotal moment. “When pension funds in countries like Austria and Sweden that invested in Greek bonds are taking ahaircut, ... See all stories on this topic » | ||
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| ROUNDUP: What FX Analysts Think Of The Greek Debt Swap Wall Street Journal By Alexandra Fletcher Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Greece's government said Friday that an average 83.5% of bondholders submitted to its EUR206 billion debt restructuring, below the 90% needed to avoid using so-called collective-action ... See all stories on this topic » |
| Greek "Fresh Start" Bonds Face Immediate 80% Loss, 98 ... By Tyler Durden In addition, the status of the 14 per cent of Greek debt not issued as Greek-lawbonds, most of which are bonds governed by English law, remained unclear...... About two-thirds of that amount will be affected in any case by the debt haircut. ZeroHedge |
| Prepare for Major Haircuts on Portuguese Debt - Mish's Global ... By Mike Mish Shedlock Prepare for Major Haircuts on Portuguese Debt. Ambrose Evans-Pritchard at The ... Last month the European Central Bank exercised its droit du seigneur, exempting itself from loses on Greek bonds. The instant effect was to concentrate more ... Mish's Global Economic Trend Analysis |
| The Mainstream Media Still Doesn't Get the ECB Greek Debt Swap ... By WhatAmIMissingHere The message here is clear: all private investor sovereign bond holdings are now subordinate to those of the Central Banks/ the IMF. However, for now, the... The ECB had been toying with this idea of subordinating private debt holders for over a year now: all negotiations concerning a Greek debt restructuring featured private debt holdings taking a “haircut” while the ECB, IMF, and Eurozone countries kept their holdings at 100 cents on the Dollar. However, this latest move by the ECB ... What Am I Missing Here? |
| Will Greece Debt Resolution Spark a Bigger Crisis? - CNBC While Europe's banks and insurance companies can withstand losses on Greek debt, a series of similar haircuts might destabilize the system and render some institutions insolvent. Warren Mosler, a trader based in the Virgin Islands who is ... “ That is, should Greek bonds be formally discounted, the consequences of merely the political discussion of that question will be all it takes to trigger a financial crisis rivaling anything yet seen.” He has spelled out exactly what he thinks would ... NetNet With John carney |
| Greece: the biggest debt default in history By Richard The Greek government has defaulted on its debts to private sector bondholders to the tune of €173bn. That's the biggest sovereign debt default in history. This was achieved by a negotiated 'voluntary' deal with Europe's banks, insurance ... Facts For Working People |
| Greece's new-bonds era arrives | Felix Salmon By Felix Salmon (The March 20 deadline no longer matters, because that represented the maturity of a Greek-law bond, which is now being swapped into much longer-dated debt.) There's a new restructuring offer, too, for “holders of Greek law ...The exit yield on Greece's new bonds is roughly 20%, which means that even after this enormous haircut, markets are still pricing in a very high probability of default on the new bonds. (Which, remember, are all being issued under foreign law, and will ... Felix Salmon |
| Euro zone first default gives few reasons to cheer - Analysis ... By Neil Unmack And Greece still struggles with a heavy debt load. ... The European Central Bank's holdings of Greek bonds have been protected; euro zone governments have not haircut their loans, although they did agree to charge lower interest rates. Breakingviews |
| So Maybe Greek CDS Will Be More Than Fine? « Dealbreaker: Wall ... By Matt Levine On Wednesday, Swiss bank UBS AG started quoting a “gray market” in new Greek sovereign bonds … using as a guide details of the debt swap Greece has put on the table for private investors to accept until Thursday evening. The “bid” price for a batch of future Greek bonds ... The prices quoted by UBS imply that losses private creditors to Greece will take are more like 79% of face value, not the original haircut of 70-75% many had expected. Yeah but. If you believe this horrible CDS ... Dealbreaker |
| Loophole Could Complicate Greek Bond Swap and Bailout | Forex ... By Yohay Some hedge funds found a loophole that may enable them to receive the full amount promised them: no haircut. Despite the relatively small sums involved, any. ... The size of these particular bonds is only €400 million – a drop in a sea of Greek debt, but it could be extended (source: eKathimerini) to all the bondsof the issuer: Hellenic Railways, amounting to 3 billion euros. The Greekgovernment owns the company and guarantees the bonds. While the sums are not big, it's important ... Forex Crunch |
| International News Media Report on New Greek Haircut | Greece ... By Stella Tsolakidou The new haircut on Greek bonds decided on Friday morning by the Greek Parliament has centered the attention of international media across the world. In their. Greece.GreekReporter.com Latest... |
| Germany's Bild set to take a haircut on Greek bonds | Business | The ... Germany's Bild set to take a haircut on Greek bonds. Newspaper bought €10000 of Greek debt at a heavily discounted price of €4815 – it would be worth €3000 ... www.guardian.co.uk/business/2012/.../bild-greek-bonds-hairc... |
| Germany's Bild newspaper says 'nein' to Greek bond haircut ... Germany's Bild newspaper says 'nein' to Greek bond haircut ... The Greekdebt swap is trying to force the holders of €206bn of bonds to accept a trimming of ... www.telegraph.co.uk/.../Germanys-Bild-newspaper-says-nein-t... |
| Germany's Bild set to take a haircut on Greek bonds Germany's biggest selling newspaper, Bild, has said "nein" to the Greek debtswap – three months after buying €10000 (£8350) of Greek governmentbonds. www.guardian.co.uk/business/.../bild-greek-bonds-haircut?... |
| Greek debt 'haircut' takes off | New Europe Home > Newsroom > Greek debt 'haircut' takes off ... Holders of a total value of € 206bn of Greek bonds are being requested to participate in this exercise, which ... www.neurope.eu/article/greek-debt-haircut-takes |
| Deal or Default? Tension Rises as Greek Debt Swap Deadline ... The Greek parliament building: Will Athens succeed with its debt swap deal?... in the debt swap deal for private-sector holders of Greek sovereign bonds.... public pension funds demonstratively voted against participating in the debt haircut. www.spiegel.de/international/europe/0,1518,820078,00.html |
| greek bonds haircut | Debt & Credit Blog| Free Online Tips and ... Greek debt 'haircut' takes off. New Europe Holders of a total value of €206bn of Greek bonds are being requested to participate in this exercise, which comprises ... debttoincome.net/greek-bonds-haircut/ |
| Germany's Bild set to take a haircut on Greek bonds | Phantis Germany's Bild set to take a haircut on Greek bonds ... 12 major bond holders agree to cut Greek debt (Mar. 5). Frigate recalled early from Somalia in bid to cut ... phantis.us/news/germanys-bild-set-take-haircut-greek-bonds?... |
| Hedge funds speculate on Greek default Today is the deadline for private investors in Greek government bonds to ... to participate in a debt haircut for Greece and has since been followed by other large ... www.wsws.org/articles/2012/mar2012/gree-m08.shtml |
| Greece to investors: take a haircut so we can get our bailout (+video ... Private investors currently hold about €206 billion ($272 billion) of Greek bonds, €107 billion ($141 billion) of which the debt swap is meant to shave off. www.csmonitor.com/.../Greece-to-investors-take-a-haircut-so-... |
| 'Historic Opportunity' Greece Pulls Off Debt Restructuring Deal ... The country says it may now move to force creditors who are not participating to swap their bonds. Greece has succeeded in pushing through a debt haircut ... www.peopleunlikeus.com/?p=37578&utm.. |
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