Copying and distributing are prohibited without the permission of the publisher. If you wish to distribute this content please contact Christopher Hunt (email@example.com) for a quote.
Subscribe today: Order Euromoney by contacting us on +44 (0)20 7779 8999 (UK) or +1 212 224 3570.
ISDA: 50% Greek haircut 'voluntary', likely no credit event for CDS
The EU Summit has determined that holders of Greek bonds will be faced with a haircut of 50% on their exposure. But it still looks extremely unlikely that even a haircut of this magnitude will trigger a credit event on the CDS written against these bonds.
To receive similar stories, sign up for Banking emails.