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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
"GREECE: Speculation of a Greek agreement has been reached for its
voluntary PSI deal continues to do the rounds. According to Greek
newspaper Proto Thema, The entire Greek debt is replaced by a 30-year
bond term and the coupon on the new bonds (which will replace the oldest
existing haircut) will be 3.10% and will rise to 3.90% and go up to
4.75%. "Greece will pay the first year only interest and then interest
and principal", added Proto Thema, citing sources. The website adds
that banks, institutional investors etc. will get a 50% haircut, of
which 15% will be cash and 35% of the new bond. The final terms are
expected to be announced Friday afternoon by the head of the
International Financial Institute (IIF) Charles Dalaras, added Proto
Thema."
My view is the world is now terminally fucked up and I'm selling it.
Good luck.