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Moody's: Greece Has Defaulted

http://digg.com

Moody's Investors Service considers Greece to have defaulted per its default definitions. The announcement comes despite Athens reaching a deal with private creditors for a bond exchange that will shave €107 billion from its €350 billion debt. The agency pointed out that even though 85.8% of the holders of Greek-law bonds had signed to the deal, the exercise of collective action clauses that Athens is applying to its bonds will force the remaining bondholders to participate.

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ZEUSLGN's picture
Created by ZEUSLGN 2 years 5 weeks ago – Made popular 2 years 5 weeks ago
Category: Economics   Tags:

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