2011/07/21

Idea for Greek debt - consolidated annuities (consols)

FT Alphaville » Cook’s consol plan for Greece

undated consolidated annuities (consols)

... that would be converting Greece’s debt into something in the way of redeemable preference shares.

The choice then seems: perpetual or truly consolidated debt?

Though, perhaps the question should be: which one will the market prefer?

 

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