da ja der Bondholder Act (Law 4050/12) verabschiedet wurde und geCACt hat.
AnonymousMar 1, 2012 05:22 AM
That is interesting, because in the bonds under greek government law is the following definition of Events of default:
If any of the following events (“Events of Default”) occurs:
.....
(d) any government order, decree or enactment shall be made whereby the Republic is prevented from observing and performing in full its obligations contained in the Notes,
then the holder for the time being of any Note may give notice in writing to the Republic that such Note is immediately due and payable whereupon such Note shall become immediately due and payable at its principal amount together with the greater of an amount calculated in accordance with the provisions set out under “Amount due on Maturity” above as if references to the Maturity Date were to the date of repayment referred to in this paragraph and its principal amount, together with, in either case, accrued interest to the date of repayment unless prior to such time all Events of Default in respect of the Notes shall have been cured.
But this could mean only if the law is used, it is a default. Let's see what will happen during the next week.
ReplyIf any of the following events (“Events of Default”) occurs:
.....
(d) any government order, decree or enactment shall be made whereby the Republic is prevented from observing and performing in full its obligations contained in the Notes,
then the holder for the time being of any Note may give notice in writing to the Republic that such Note is immediately due and payable whereupon such Note shall become immediately due and payable at its principal amount together with the greater of an amount calculated in accordance with the provisions set out under “Amount due on Maturity” above as if references to the Maturity Date were to the date of repayment referred to in this paragraph and its principal amount, together with, in either case, accrued interest to the date of repayment unless prior to such time all Events of Default in respect of the Notes shall have been cured.
But this could mean only if the law is used, it is a default. Let's see what will happen during the next week.
http://andreaskoutras.blogspot.de/2012/03/unofficial-translation-of-law-4050.html
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