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Tag Archives: Greek bond swap

Angry Greek Bond Holders Ηarass PASOK Leader Venizelos over PSI

Dozens of  Greek bond holders harassed former Finance Minister – now PASOK leader – Evangelos Venizelos and ex deputy finance minister Philipppos Sachinidis outside the Bank of Greece on Wednesday afternoon. Protest banner “Thieves. Bring our money back” The angry and frustrated Greeks spoke out heavy insults against Venizelos and attacked his …

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Athens-Thessaloniki: Angry Bond-Holders Threw Eggs at BoG Due to PSI

Chanting “Shame” and “Thieves” angry holders of Greek bonds threw eggs at the Bank of Greece and General Accounting Office in Athens and Thessaloniki. Several dozens of middle-aged protesters  raised their voice and express their anger about the Greek bond swap (PSI) that swallowed the savingss of a whole life. At least …

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Greek FinMin Statement: Bond Maturing May-15 Will Be Paid

“Greece will pay the bond that matures on May-15, including interest rates” the finance Ministry said Tuesday in a statement. “This bond is part of bonds amounting 6.4 billion euros that were not offered to participate in the Greek Bond Swap (PSI) by their holders. The decision was carefully taken after thorough …

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Education Minister Threatens to Resign over Greek Universities Funding

Just 23 days after his appointment, Greece’s  Education Minister Giorgos Babiniotis threatened to resign on Thusrday upon criticism and pressure he received on his decision to disengage the funding of universities and Technical Education Schools (TEI)from the councils elections as it has been defined by a recent law passed by Papademos coalition government. …

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Greece To Pay at least €35.5 Million to PSI Advisers

 OUCH! Greece has to pay at least 35.5 million euro to its two main advisers helping the debt-ridden country with its Greek Bond swap (PSI) or in common English “debt restructuring”. Greek Finance Ministry saw itself obliged to reveal the payments, after daily Proto Thema  claimed on Tuesday, that Athens had …

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ISDA: Greek PSI-CACs “Credit Event”; CDS Payments Triggered

 Yeap. The activation of the Collective Action Clauses” (CACs) consist a “credit event”, said the International Swaps and Derivatives Association (ISDA) on Friday. Now the CDS will have to be paid out and all those who bet on Greece’s bankruptcy will make some nice profit. The CDS or Credit Default Swap is a …

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PSI Participation Rate 85.8%, with CAC Activation 95.7%

The Greek Bond Swap (PSI) completed with a voluntary participation of 85.8%,  said a statement issued by the Greek Finance Ministry on Friday morning. Holders of 172 billion euros worth of bonds in total have agreed to the Greek bond exchange offer. The statement said further that 69% of non-Greek bondholders participated …

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All Eyes On Greek PSI

Expectations on a successful Greek bond swap (PSI) are high, just a few hours before the official offer of the Greek state expires on Thursday night (2000GMT/ 8 pm local time). The Greek government seems optimistic. “It is going well, we are optimistic,” a Greek official told Reuters on conditions …

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Talks Between Greece and IIF on PSI Suspended

The talks between Greece and the chief of Institute of International Finance Charles Dallara on the Greek Bond Swap (PSI) have been suspended and no solution was found. Despite some positive signs on the PSI progress during the day,  Charles Dallara said on Friday afternoon in a statement” We hope Greece will renegotiate …

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Greeks on PSI: Progress But No Deal Yet

While chief of Institute of International Finance (IIF), Charles Dallara is packing his suitcases to travel to Athens on Jan 11/2012, Greeks are doing some homework ahead of the talks. Thus under the pressure of French president Nicolas Sarkozy and German Chancellor Angela Merkel who threaten not to give Greece the next aid …

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