Saturday April 25, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
PIMCO expects another haircut

Greece will likely need a second debt restructuring, according to a top official at investment fund PIMCO, as the first one that was completed last month may well not be sufficient for the country.

Andrew Bosomworth, head of the PIMCO portfolio in Germany, said on Tuesday that with the first haircut the problems of Greece have not been resolved, and that a second one will follow. This is why we are avoiding Greek bonds.

He added that the next haircut will hurt the states that lent to Greece as they will then hold about three-quarters of Greek debt.

Meanwhile a Dow Jones report suggested on Tuesday that the credit default swaps (CDS) of the bonds issued under foreign law may be in for a payout should Greece decide against repaying them. It cited a source from the International Swaps and Derivatives Association (ISDA) that issues the CDS.

Back in Athens the outstanding debt that the state has to third parties (suppliers, construction companies etc) climbed to 6.3 billion euros at the end of February, from 5.7 billion at end-December, the Finance Ministry announced on Tuesday.

ekathimerini.com , Tuesday April 3, 2012 (23:18)  
Construction material costs slide anew
Navios taps German shipping opportunities
Govt eyes state company reserves
Thessaly stores likely to remain closed on first Sunday of spring sales
FM warns against a lose-lose situation [Update]
Germany will have to decide whether it wants to support Greece or make an example of the SYRIZA-led administration, Foreign Minister Nikos Kotzias said on Friday. Do they want to support us...
PM tries to appease mayors, regional governors over cash bill
Prime Minister Alexis Tsipras met regional governors and mayors over the weekend in a bid to overcome their objections to a decision by the government forcing local authorities to hand over ...
Inside News
SOCCER
Rival soccer fan clashes leave man stabbed
One man was stabbed and several others slightly injured as rival Thessaloniki club fans clashed late on Friday at an event held by Aris supporters. Reports from Greeces second city stated t...
TRACK & FIELD
Grabbing the shoes that have gone a long way
Greek Marathon legend Maria Polyzou is calling on everyone to join her in her charity run at the Dusseldorf Marathon on Sunday, April 26, by bidding for her special shoes she will race in an...
Inside Sports
COMMENTARY
Five years ago
This week marks five years since Greece officially entered a period of crisis when then Prime Minister George Papandreou announced that the country would seek a bailout from the eurozone and...
EDITORIAL
Slippery slope
The extremely divisive language that is currently being used by parliamentary deputies and coalition ministers is both unacceptable and dangerous. It is high time that the tired, old argumen...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. FM warns against a lose-lose situation [Update]
2. PM tries to appease mayors, regional governors over cash bill
3. Poll: Large majority of Greeks want compromise with lenders
4. Police rescue 69 migrants from Evros River
5. Thessaloniki nanny denies abusing toddler
6. Cigarette-smuggling ring arrested in northern Greece
more news
Today
This Week
1. Five years ago
2. Greece not playing a game of chicken on debt
3. Slippery slope
4. Poll: Large majority of Greeks want compromise with lenders
5. PM tries to appease mayors, regional governors over cash bill
6. FM warns against a lose-lose situation [Update]
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek government's popularity takes a hit as talks drag on
3. Putting off payments led to Q1 budget primary surplus
4. Obama calls for flexibility in Greek reform talks in brief exchange with Varoufakis
5. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
6. Europe's collision course with Greece
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.