Saturday, 10 March 2012

Action Forex

Action Forex

ISDA declares Credit event in Greece; Default is official

Posted: 09 Mar 2012 01:48 PM PST

The International Swaps and Derivatives Association (ISDA) has decided unanimously today to declare that Greek’s bond swap constitutes a “credit event” and that “the right of all holders of the affected Bonds to receive payments has been reduced,” according to release published by the ASDA late Friday. Investors that bought Credit Default Swaps (CDS) on Greek debt will get paid. Nev
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