‘s Dallara Seems To Think So
Greece has fallen out of the headlines in the past few days due to a supposed resolution of the debt deal, but large hurdles still exist. Managing Director Dallara of the IFF is under the impression that the current plan will be proved a success next week with investors exchanging their current bonds for a 53.5% haircut. However the success of this exchange requires a 90% participation rate which is a tall order for many of the hedge funds holding Greek debt. If participation can be raised above 75% but under 90% then Greece will bring the issue to their … Read more