Greek bailout triggers no payouts on credit default swaps - CGMA
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Greek bailout triggers no payouts on credit default swaps 

March 02 2012

Investors holding bonds for Greek sovereign debt won’t be able to collect payouts on credit default swaps after the latest Greek bailout forced them to take losses on their holdings last week, according to The Wall Street Journal. The International Swaps and Derivative Association’s EMEA Determinations Committee voted Thursday that the bailout-induced write-down of Greek sovereign debt constituted no credit event and, therefore, would trigger no payout. Also: The New York Times | Financial Times | Bloomberg | Reuters

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