Monday September 21, 2020

Spanish and Italian bondholders may trail in writedown security

Spanish and Italian bondholders may find themselves in the same place in the queue to take losses as they were before the Eurozone deal was reached.

29th June, 2012

Spanish and Italian bondholders may find themselves in the same place in the queue to take losses in a writedown of government debt even after European leaders renounced the preferred status of their bailout fund.

Chiefs of the 17 euro countries said after a summit today that the European Stability Mechanism will be able to recapitalise banks directly, rather than via governments, which will avoid increasing the public debt. Loans to Spain, which is to...

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