Greece confident over debt deal
A deadline has passed for private investors to participate in a major Greek debt reduction deal, with government officials and world markets appearing confident of high participation.
A senior government official said shortly before the 10pm local time (8pm Irish Time) deadline that no extension was being planned.
The landmark agreement is aimed at slashing the country’s national debt by €107bn, with private bond holders accepting a face-value loss of 53.5%, in exchange for new bonds with more favourable repayment terms.
Initial results of participation in the exchange are due to be announced early tomorrow.
