Creditors agree to Greek bond deal

More than 85% of private bondholders agreed to the deal The agreement paves the way for Greece to get another bailout "I wish to express my appreciation to all of our creditors," deputy prime minister says Athens (CNN) -- Creditors have agreed to a plan to restructure Greek government bond
s -- a move that was vital to the financial future of the country -- Greek government officials said Friday. The monumental deal means Greece has cleared its final hurdle to qualify for the €130 billion bailout program from the European Union and International Monetary Fund. More than 85% of private bondholders agreed to the deal, Deputy Prime Minister Evangelos Venizelos said in a statement The agreement, called the private-sector involvement, gives bondholders not very attractive terms, experts have said. Investors who own Greek bonds could now see losses of up to 75%. var currExpandable="expand15"; if(typeof CNN.expandableMap==='object'){CNN.expandableMap.push(currExpandable);} var mObj={}; mObj.type='video'; mObj.contentId=''; mObj.source='business/2012/03/08/boulden-greek-debt-swap-deadline.cnn'; mObj.lgImage="http://i2.cdn.turner.com/cnn/dam/assets/120308102013-boulden-greek-debt-swap-deadline-00015026-story-body.jpg"; mObj.lgImageX=300; mObj.lgImageY=169; mObj.origImageX="214"; mObj.origImageY="120"; mObj.contentType='video'; CNN.expElements.expand15Store=mObj; Greek bond swap for new debt? But not doing the agreement could have meant that Greece would not qualify for more bailout money and could face default. Now that the deal is accepted, European finance officials could approve the final portion of Greece's bailout as early as Friday "I wish to express my appreciation to all of our creditors who have supported our ambitious program of reform and adjustment and who have shared the sacrifices of the Greek people in this historic endeavor," Venizelos said. if(typeof CNN.expElements==='object'){CNN.expElements.init();}

Creditors agree to Greek bond deal 2012-03-08T23:16:00-08:00 Rating: 4.5 Diposkan Oleh: Undercover 999