Thursday, March 8, 2012

Roubini : Greece private creditors got a very sweet

Greece's private creditors got a very sweet deal they should stop complaining wrote Dr Nouriel Roubini today in the Financial Times “The reality is that private creditors got a very sweet deal, while most actual and future losses have been transferred to the official creditors,” Roubini wrote.“The official sector began restructuring its claims well before the private sector creditors. Maturities were lengthened and the interest rate on those loans reduced, repeatedly,” he wrote.“They should stop complaining. They will take some losses but those losses are limited. Indeed, the fact that the new bonds are expected to be worth more than the old bonds suggests that this PSI exercise has further transferred losses to official creditors,” he wrote. - via CNBC
Related Posts Plugin for WordPress, Blogger...