small greek pension funds oppose debt rollover
Last Updated : GMT 06:41:18
Arab Today, arab today
Arab Today, arab today

Small Greek pension funds oppose debt rollover

Arab Today, arab today

Arab Today, arab today Small Greek pension funds oppose debt rollover

Athens - AFP

Five small Greek pension funds have declared their opposition to a huge debt writedown, which was designed to prevent a sovereign default and that has been accepted by several global banks, Greek media reported on Wednesday. The five funds, which include self-employed staff, journalists and police, hold around two billion euros ($2.7 billion) of Greek state bonds, around one percent of the total value of obligations earmarked for the debt swap. Another half-dozen funds holding some 2.7 billion in bonds on Tuesday agreed to join the initiative, which aims to trim Greece\'s sovereign debt of over 350 billion euros by up to 107 billion euros. Two more funds worth 1.7 billion euros are to decide on Wednesday. Athens has already passed legislation to force recalcitrant bondholders to participate if a majority agrees to the debt rollover. Banks, insurers and investment funds holding debt issued under Greek law must decide by 2000 GMT Thursday whether to write off half of the money they are owed, while those who hold debt issued under foreign law have until April 11 to decide. For bonds issued under Greek law, Athens is targetting a participation rate of at least 75 percent of investors, failing which it has said the operation might be called off, which could lead to a messy default as early as March 20. The country is due to reimburse 14.4 billion euros in debt on that date.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

small greek pension funds oppose debt rollover small greek pension funds oppose debt rollover

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

small greek pension funds oppose debt rollover small greek pension funds oppose debt rollover

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today
Arab Today, arab today

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 14:56 2017 Thursday ,21 December

Ryanair says formally recognises pilots' union

GMT 16:03 2017 Thursday ,21 December

US hits Myanmar general in new global rights sanctions
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday