Tuesday, January 31, 2012
Greece says investor losses from debt swap may top 70%
Greece's private sector creditors could take a loss of more than 70 percent in a planned debt swap, Finance Minister Evangelos Venizelos said.
"There is a very serious discussion based on new facts. We are talking about a PSI much greater than the original," he told lawmakers, referring to private sector involvement in the deal.
"We are talking about a haircut on the net present value exceeding 70 percent," he said.
"There is a very serious discussion based on new facts. We are talking about a PSI much greater than the original," he told lawmakers, referring to private sector involvement in the deal.
"We are talking about a haircut on the net present value exceeding 70 percent," he said.
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