- Greece has found another €325mn to cut.
- The Troika will now have a significant presence on the ground in Greece to make sure reforms are happening.
- An ‘escrow account’ — ensuring that all bailout money is prioritized for bondholders — will likely be established.
- The nominal haircut has increased to 53.3%, and the coupon on those bonds will be well below market rates.
- Profits from the Securities Markets Program will be given up to improve Greek debt sustainability.
- Other profits from Greek bonds held by National Central Banks will be given up to help Greece’s debt sustainability.
- A lowering of interest rates on all loans to Greece.
For more on some of the economic assumptions underpinning the whole deal, see here.
By Joe Weisenthal, from: http://www.businessinsider.com/7-key-points-on-the-latest-greek-bailout-2012-2?utm_source=Triggermail&utm_medium=email&utm_term=10%20Things%20Before%20the%20Opening%20Bell&utm_campaign=Post%20Blast%20%28moneygame%29%3A%2010%20Things%20You%20Need%20To%20Know%20Before%20The%20Opening%20Bell#ixzz1n3OAXJpg
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