REPORT: 60% Of The Greek Bondholders Will Participate In The Debt Swap

greece tourism greece tourism

Photo: Courtesy of Peter Sommer Travel

According to data compiled by Bloomberg, 60 per cent of Greece’s bondholders have agreed to participate in the country’s debt-swap agreement.Economists are increasingly confident that the number will eventually clear the 66 per cent hurdle, which is needed to activate the collective action clause (CAC).  The CAC would force the balance of bondholders to go along with whatever the majority agrees to.

However, questions remain on whether or not the use of CACs would or should activate the credit default swaps tied to the Greek bonds in question.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at