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
Business Insider Emails & Alerts
Site highlights each day to your inbox.