STOCK MARKET WATCH -- Wednesday, 7 March 2012

[Roland99]

48. Reuters' Greek propaganda piece >>>

Greek bond swap prospects lifted by pledges
http://news.yahoo.com/athens-creditor-group-turn-heat-greek-bondholders-111001591.html

Major banks and pension funds threw their weight behind Greece's bond swap offer to private creditors on Wednesday, raising the likelihood that the deal will go through and a 130 billion euro international bailout package would be secured.

A group of 30 banks and funds representing 39.3 percent of Greece's 206 billion euros of outstanding debt said they would take part in the deal, joining other Greek banks and pension funds which have already pledged to accept the offer.

...

With just over a day to go before the offer expires at 2000 GMT on Thursday, the latest commitments bring the declared total closer to the two thirds minimum level needed for Greece to enforce losses on any holdouts, ensuring the deal goes through.

First off, it's 75% required, not two-thirds (although there has been talk that even 50% would be acceptable to stave off a default).

Second, with just over 24 hours left they're going to double the number of commitments????