Greek Haircut 70%

Andrew Neil has just Tweeted:

@afneil Andrew Neil

Greece supposedly one step away from a 70% haircut for private bondholders. Orig meant to be 50%. But will all bondholders agree?

 

I noted in September last year that if a deal is ever done, the haircut would be 80%.

Don't believe for one minute that a deal has been done, until a signed agreement has been published that stands up to rigorous scrutiny.