Spain may need to impose losses on bondholders before it would be able to receive a “sizable” bailout from international peers, Petros Christodoulou, former head of Greece’s debt office, said in a BBC Radio 5 interview.
Greece will begin talks in the next two to three weeks on the terms of a voluntary debt swap, Petros Christodoulou, the head of the country’s public debt management office, told reporters in Athens today.
Deutsche Bank AG, perennially among the top three in global credit markets, made billions of dollars of loans to banks worldwide since 2008 and accounted for them in a way that obscured their continuing risk to investors.
Ratings actions forced investors to cut holdings of Greek bonds, creating a market where there are only sellers of the securities, Petros Christodoulou , head of the nation’s debt agency, said today at a conference in London.
Petros Christodoulou , head of Greece’s debt agency, said the European Union loan package is giving the country leeway to focus on its fiscal-consolidation measures and there’s no reason to expect a default.
Greece will use collective action clauses to bind holders of Greek-law bonds to accept a debt swap if it receives sufficient consents, according to an e-mailed statement from the Athens-based Finance Ministry today.