Greek debt ‘haircut’ takes off

Greek debt ‘haircut’ takes off


The willing participation chapter of the Private Sector Involvement (PSI) exercise to alleviate the Greek sovereign debt by €107 billion expires at 22:00 Greek time (CET +1) on 8 March. Holders of a total value of €206bn of Greek bonds are being requested to participate in this exercise, which comprises a 'haircut' of 53.5% of the nominal value of their titles.

In exchange, holders will receive new bonds under the English law guaranteed by the European Financial Stabilit...


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