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Image header Agence Europe
Europe Daily Bulletin No. 10586
ECONOMY - FINANCE / (ae) greece

Pressure on bond-holders

Brussels, 30/03/2012 (Agence Europe) - On Friday 30 March 2012, the head of the Eurogroup, Jean-Claude Juncker, put pressure on private holders of Greek bonds issued under non-Greek legislation to get them to joint the writedown in the country's debt. In a written statement, he said: “We have been informed that a failure to make timely payment of Greece's eligible foreign law bonds that are not exchanged does not constitute an event of default under Greece's new bonds issued in the exchange”. This would mean that CDS would not apply. The private lenders in question have until Wednesday 4 April to decide. (MB/transl.fl)

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