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Monday, March 26, 2012

Oops! Greece Gets Its Dates Wrong

The PSI participation in foreign law Greek bonds was a meagre 69%. Greece has now extended the deadline for participation to April 4th.

Unfortunately, before then, on April 2nd there is a payment due on some bonds relating to Greek railways.

Was not the whole point of this exercise was for the swap to have been finalised so that bailout conditions were met before bills were due?


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