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EU court rejects investors’ calls for ECB compensation over Greek bailout

The General Court of the European Union said on Thursday the European Central Bank does not have to compensate private holders of Greece’s sovereign debt who were forced to take losses during the 2012 international bailout of the country.

Some investors were seeking compensation for the haircut they were forced to accept during Greece’s second bailout, which was accepted by most holders of Greek bonds, writes reuters.

They wanted the ECB to reimburse them because the central bank had not opposed the Greek law that authorized the haircut, but the EU court said the ECB had acted lawfully and rejected their claims.

PS I suppose the reference is for the PSI Bond swap in March 2012.

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One comment

  1. Hello my greek sisters and brothers,

    havent been here for some time but i remember a lot of spirited debates back in that horrible summer of 2015.
    Just felt the need to come back and say my thanks to keeptalkinggreece as through this site and some of the commentators I came to read some of Y. Varoufakis papers and today, as result of that I cast my vote for him in the EP-elcections.
    Not sure if he will get enough votes for a seat and in general there is loads to criticise about the EU but surely we can all agree that the possibility of a former greek finance minister sitting in a german seat in the EP is one of the good things Europe has brought forth.
    So thank you keeptalkinggreece and to everyone else go on and vote for the good guys, whoever that might be where you live, because otherwise the bad guys get an easy life.

    german citizen che

    ps. sorry this is off topic, didnt know where else to put it