The International Swaps and Derivatives Association has decided the Greek debt restructuring does not constitute a “credit event” and that Greek investors should not receive billions of dollars in credit default insurance.
The International Swaps and Derivatives Association has decided the Greek debt restructuring does not constitute a “credit event” and that Greek investors should not receive billions of dollars in credit default insurance.
The association turned down two requests for a payout to be triggered over next week’s €206bn debt swap, but left the door open for future negotiations.
Read more on why the association rejected investor requests, and how the situation will continue to evolve.
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