BN reporting that more Greek bondholders can play

Bloomberg news is reporting that Greece wants to expand the size of Greek bondholders that can sell back their bonds back to Greece as originally agreed upon with the July 21st Bailout 2. As part of that agreement, Greece can buy back debt with money issued to it from the EFSF but only certain bondholders were allowed to sell back to them, specifically those taking part in the debt swap. The EU may now allow Greece to accept bonds from a broader group of Greek bondholders at the same time Greece proceeds with the debt exchange plan. The bottom line goal is too further put a dent in their debt load and this should help. While this sounds like there can be more debt reduction than initially thought, which is good, a haircut of 50%+ rather than the 21% in the debt exchange would do so much more dramatically.

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