Saturday, March 10, 2012

Greek debt relief to trigger bond insurance payout - The Finance Room

on March 9, 2012 7:56 pm in Business News / no comments

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People wait to receive money from an ATM at an Alpha Bank branch in Athens, on Thursday, March 8, 2012. Greece's race to slice euro107 billion ($140 billion) off its national debt entered the final stretch Thursday, with markets confident enough private investors will decide to accept a deal to write down the value of their Greek bond holdings. (AP Photo/Thanassis Stavrakis)The agency that oversees financial derivatives says a massive debt relief deal for Greece constitutes a so-called credit event, meaning it will trigger payouts on bond insurance.

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Source: http://www.financeroom.net/?p=293247

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