Fire Near Athens Ravaged Area Twice the Size of Manhattan
A devastating fire near Athens this week has scorched an area of 104 square kilometers, nearly twice the size of Manhatta
Greece Secures Private Bondholders Backing for Debt Swap
- Tweet
Send to Kindle
Athens needed to get 75% agreement from private bondholders on debt swap so it can get access to a second bailout. File photo
The Greek government announced Friday morning that it has secured sufficient support for a debt swap deal that will enable it to avoid defaulting on its debts.
The Hellenic Republic Ministry of Finance said that 85.8% of private bondholders had agreed to the plan, BBC reports Friday.
Greece's private creditors have agreed to replace the securities they own with new ones by taking a nominal loss of 53.3%, after the deadline for completion of negotiations expired at 10 pm local time Thursday.
Athens needed to get 75% agreement to be able to push through the deal.
It needs the debt swap so it can get access to a second bailout from the European Union, European Central Bank and International Monetary Fund.
The haircut should be extended to EUR 206 B of Greek government debt, of which EUR 177 B were issued under Greek law. The deal aims at wiping off EUR 107 B from the obligations of Athens, but 95% of all bondholders must participate in order to achieve this goal.
Related Articles:
Firefighters From Six Countries Tackle Devastating Blaze Near Greek Capital
For the third consecutive day, firefighters are battling the massive blaze near Athens
Massive Forest Fires Near Athens Force Thousands to Evacuate
Massive forest fires are raging on the outskirts of Athens, forcing thousands to evacuate their homes.
Athens' Acropolis Shuts Down Amidst Sweltering Temperatures
AFP reported that the Acropolis in Athens will be shut to visitors during the peak heat hours on June 12
No Private Beaches in Greece: Authorities Impose Fines Up to 60,000 Euros for Access Violations
In a bid to uphold the principle of free access to beaches, Greek authorities have implemented strict regulations, warning of hefty fines for violators.
Greek Farmers Mobilize: Tractors Converge on Athens for Protest
Farmers from across Greece are converging on Athens to protest against government policies, with tractors leading the way in a mass demonstration expected to cause road closures and disruptions
Bulgaria’s Defense Minister thinks there was an Explosion on Board Prigozhin’s Plane
Bulgaria's Minister of Defense Todor Tagarev admitted the possibility that an explosive device might have been planted on board the crashed plane in which Yevgeny Prigozhin was traveling
EC is Preparing Criminal Proceedings against Bulgaria for Accessing Data from Criminal Record Certificates
The European Commission has announced that it is preparing criminal proceedings against Bulgaria, Cyprus, Greece, Malta, and Portugal for incorrect application of the rules on the exchange of data on criminal records and the establishment of the relevant
The European Commission Started an Evaluation of the Bulgarian Recovery Plan
The European Commission has started an evaluation of the Plan for Reconstruction and Development of Bulgaria, said the spokesman of the European Commission Eric Mamer. The document was submitted to the Commission on 15 October.
Nearly 60% of Bulgarians are Skeptical about Adopting the Euro
58% of Bulgarians do not support the introduction of the euro as the official currency in the country. This shows a study prepared by Trend agency specifically for the financial forum NEXT DIFI 2021, organized by b2b Media for the fifth year. The data dur
Bulgaria Is Late to Explain Its Position on N.Macedonia Says Diplomat
Too late Bulgaria began to explain its own position towards North Macedonia, as it should have been clear to our European partners some time ago.
New German Government and Old Bulgarian "bad boy" Borissov
An SPD-led government in Germany has significant potential to sharpen international attention to the problems of corruption in Bulgaria.
