Economy

Demeter

(85,373 posts)

3. Greece threatens default on PSI holdouts

Tue Mar 6, 2012, 11:33 PM

Mar 2012

Greece threatened to default on any of its bondholders who do not take part in this week’s €206bn debt swap, raising the pressure on potential holdouts.

The Greek public debt management agency said that Athens “does not contemplate the availability of funds to make payments to private sector creditors that decline to participate in PSI”.

The threat is aimed in particular at the 14% of investors who own Greek bonds issued under international law.

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http://link.ft.com/r/R5WAEE/8ZFFB7/ULCJB/HYNJMA/GDH5W7/KI/t?a1=2012&a2=3&a3=6

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