Lining up for a haircut

More and more holders of Greek bonds are preparing for a haircut to their investment, with the government expecting the private sector holders of at least 90 percent of Greek debt to take part in the bond swap plan.

However, a number of international analysts have been promoting a 50 percent haircut, which banks and other bondholders have reacted to angrily, with local lenders suggesting that this would lead them directly to the country?s Credit Stability Fund.