Brussels, 20/03/2012 (Agence Europe) - ISDA, the international umbrella body for derivatives, reported yesterday that holders of credit default swaps for Greek debt would be receiving €1.9 billion in compensation. For a US$100 of CDS, payment of US$78.5 will be made.
The retroactive activation by the Greek government of special legislation to force reluctant private lenders to agree to the Greek bond write-down has led ISDA to decree that the write-down was not voluntary and was, in fact,...