129773214321875000_7Greece has completed replacement of bonds under the laws of that State, but delayed the replacement of parts under foreign law. (Click to enter the topic of the European debt crisis) that had just crossed the "March 20" wards of the European debt crisis "severe" gave no? In the country to use of "collective action clauses" (CAC) forced almost all creditors completed 177 billion euro debtAfter coupon swaps, ratings agency Fitch announced slightly raise Greece's rating, rating agencies, p, will remain on Greece selective default rating for long-term foreign currency sovereign credit rating, based on foreign law until Greece debt until the replacement of complete. (Click to enter the global channel) while at the same time, Spain 10-year government bond yields, the market fearsOr becoming the next Greece. (Click here to view the global stock market) collapse in new debt swap extension Greece on Friday, the Government announced, in part under the foreign law of Greece applications for bonds swap deadline postponed to April 4, London time.����Greece finance said, before this time investors can Greece legal Exchange old bonds for new bonds. According to quotedSolution extensions close to official as saying, the extension to Greece benefit is: will Greece have more time to meet and bond investors, find out if they support the activation of collective action clauses (CAC). Greece Ministry of Finance announced on March 9 that debt swaps (PSI) results agreement, accept them, participate in swaps of debt swaps debt amount 83.8%,Non-Greece law carries a participation rate of 69%. Rating agency p Greece on March 12, the Government issued a new batch of Treasury bonds as the CCC assessment. P said in a statement, new batch of Treasury bonds is based on the Greece sovereign debt issued after completing the replacement of domestic law, related files included in the controversial "collective action clauses"Starting instructions.����P think Greece economic growth with uncertainty, has the ambition but not popular reforms of a lack of political consensus, even after debt restructuring, remains a huge amount of external and fiscal debt burden. Is in the unfortunate statements by p, Greece debt swap operation 2023-year bonds to be issued on Friday from two days ago, on 29.5 the euro fell to EUR 25.5, 14%, issued more than two weeks ago when down 17.5%; its 10-year bond yields jump to 20% above.����Pessimists expected, probably shortly after the need for Greece to third round of assistance. However, although p on Greece's sovereign credit rating to selective default until the foreign law debt fully complete resetUntil the change, but p also said, after the replacement project will consider removing this rating, and will replace it with a new debt has been granted CCC credit rating. "Blood transfusion" no substitute "blood" while some replacement extension, but Greece bonds replacement work is done under the law: Greece has the use of collective action clauses to force almostCreditors to complete replacement of around 177 billion Euro bond.����The Wall Street Journal reported that, according to the replacement plan, creditors would be equivalent to the hands of the private sector debt down 105 billion euros, holding bonds with face value because it had to be reduced by more than half, and face new bonds for lower interest rates, longer. ------------------------------------"Hot news" German Finance: Italy Spain crises to save Germany Ludger Schuknecht Treasury officials on Thursday (March 22) that, even with the eurozone's financial safety net, Italy and Spain will also be "too big to save", StatesDiscussion on the quality of the focus should be on the firewall, rather than scale.����Current Germany Ministry of finance policy, heads of international financial and Monetary Affairs yesterday Schuknecht said in a seminar on a sovereign debt Frankfurt, now raise against the debt crisis in Europe of Defense ideas, not "firewall fans might like the idea." SchuKnecht, with respect, "Italy and Spain to let in the storerooms of such figures are not saved.����This firewall win the trust of the market is much smaller than talking huge numbers and only surface effect is also important. " Euro-zone finance ministers will meet 30-31 day scheduled for this month, they will decide whether it is necessary to expand on the eurozone's permanent financial controlNursing NetworkDiscuss some possible merge for the time being, "but we have to wait before the end of March." Schuknecht asked Germany will support unified euro area bonds, he said, first mentioned the same risk applies equally to the bonds. Germany Angela Merkel (Angela Merkel) has been ruled out at this stage the possibility to issue euro bonds.Schuknecht said
tera gold, "Germany could not take on debt obligations totalling 9 trillion euros, so my response to this would be: ' I hope never.����' "" Severe "Greece is life, but its massive debt problem is far from resolved. Hartmut Issel, analyst at UBS wealth management research recently pointed out in his article
diablo 3 power leveling,Under the replacement programme, first of all, Greece for the replacement of the bonds must pay accrued interest of 5.5 billion euros and, secondly, because most of the debt holders are Greece banks, this greatly reduced in practice to reduce the Bank's assets and jeopardize the country's banking system. Therefore
diablo 3 power leveling, Greece had from the European Central Bank, the European Union and the International Monetary Fund organizations issuing 130 billionEuro aid package of funding to spend 50 billion euros in restructuring the banking sector. He also noted that Greece this year need to continue to rely on borrowing to make up for the expected budget deficits, according to UBS calculation, PSI and this amount securities, interest payments and bank assets such as integrated together, Greece this year has only reduced the total debt amount27 billion euros, less than 8% in total debts of 348 billion euros.����According to the UBS forecast, Greece 70% to decrease the total debt you want to return to a sustainable debt on track, and that the existing assistance program funds will be exhausted in 2014, meant that Greece will take an additional 50 billion euros to 2012 years. Facing heavy debt data, Greece needsIs the "blood". Netherlands cooperation of bank financial market research analysts had said the business news, Greece to avoid a disorderly default is "a small victory", the future Greece will in 2020 would reduce the proportion of debt to GDP to 120.5% such a questionable goal. Azhaliaidi, a Professor of Economics at the University of Washington (CostaS Azariadis) is called, even if Greece public debt reduced to zero, the future may also breach, because Greece economic structural problems is the essence of "too few producers, consumers too much". Spain 10-year government bond yields hit broken 5.5% when the Greece situation seems to improve when Spain became European debt crisis of the next "problem". ShangOn Thursday, Spain 10-year government bond yields rose for the first time in nearly two months to break 5.5%, daily 5.53%, which reached higher yields during the Friday morning.����Spain dragged Italy yields on 10-year Treasury rose to break 5%. Data display, Spain 10-year bond yields have been continuously rising 9th, rose a total of up to 48 basis points;5 year government bond yield was up 54 basis points.����Market concerns, Spain for economic growth remains sluggish, or becoming the next Greece, suddenly rise in bond yields, will once again hit the beleaguered banking sector, and create a vicious circle. Spain had "stood me up" its 2011 deficit reduction targets, and raised in 2012 deficitTo 5.8% proportion of GDP, substantially more than the European Union the 4.4% and has 23% the country's unemployment rate, highest in the European Union. Worthy of note is that markets are worried that Greece writedowns on bonds of precedent will be including Spain, heavily indebted countries to imitate, due to extraordinary surge in borrowing costs in these countries affected. Wells Fargo stock advisory company policyArchitect Scott said, even now to Greece was blood, but they still may appear in the future default, Portugal, and Spain are also likely to step in Greece's footsteps. (Global exchange network)
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