(ANA) Greek govt to safeguard small bond investors

Posted by on Feb 22, 2012 in Uncategorized | No Comments

Small investors are fine.  Central Banks are fine.  Will individual investors have to swap their bonds to the same ones the central banks hold to avoid CAC, or will the CAC rule be written to exempt them from CACS, or are they just making this up as they go along?

It is all very confusing.  And yesterday, at least one statement implied the new PSI bonds were amortizing.  On the IIF press release, you will get 20 different bonds.

It all continues to be “sorted” out I’m told, but the level of confusion still seems high given how long they have had and who close we are to the end game.

ESBPF does have a website now and some documents.  I really hope they can come up with a new acronym, or just won’t be used, because that one doesn’t exactly roll off the tongue.




Greek govt to safeguard small bond investors
2012-02-22 15:13:44.57 GMT
     Feb. 22 (ANA-MPA) — The Greek government is determined to
safeguard individual bondholders’ interests from a 53.5 pct
haircut on Greek state bonds, Finance Minister Evangelos
Venizelos said on Wednesday. Speaking to reporters, the Greek
minister said his comments on the issue on Tuesday have been
“extremely misrepresented”. Venizelos stressed that his
comments were that action must be taken to safeguard any
categories of citizens necessary and this meant safeguarding
small investors, savers.
     Under the PSI programme, individual bondholders will also
be included in a bond haircut. There are around 11,000
individual bondholders in the country, of which around 9,500
have a bond portfolio worth up to 100,000 euros each.
     © ΑΠΕ-ΜΠΕ ΑΕ. Τα πνευματικά δικαιώματα ανήκουν στο ΑΠΕ-ΜΠΕ
ΑΕ και παραχωρούνται σε συνδρομητές μόνον για συγκεκριμένη
-0- Feb/22/2012 15:13 GMT