Payout on Greek Credit Swaps

One of the instruments in the European debt crisis was decided on Monday. The payout for the credit default swaps was structured was held at an auction on Monday in London. The investors who bought protection with the credit default swaps will receive a payout equal to 78.5 percent of the original value of the Greek bonds. The estimated total payout amounts to about $2.5 billion. The Greek debt situation and bonds have been crucial in undermining the Greek and Europe economies.
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Editorial Staff