Greece May Near 90% Private Sector Participation In Bond Swap After All

greece shipyard

Photo: mfotinakis via flickr

Dow Jones is citing sources that say private sector participation in a Greek bond swap will indeed reach or near the 90% demanded by the Bank of Greece last month.Fulfillment of this demand would alleviate one of the major hurdles threatening the success of the second Greek bailout announced in July.

Greece demanded 90% private sector participation in the voluntary bond swap, but up until now participation looked like it would not reach even 80%.

This development could briefly mitigate fears that Greece will face a disorderly default.

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