Concerns Mount That Investors Might Balk at Debt Buyback in Greece

From nytimes.com

The hedge funds holding Greek bonds may have become too greedy for their own good. It’s just two days before the books close on a plan to reduce Greece’s debt load by having the country purchase its deeply discounted bonds from banks and investors. But bankers close to the transaction are voicing concerns that hedge funds might “blow up the deal” by holding out for a higher price. If the buyback fails, they say, the consequences would be severe. Not only could the International Monetary Fund refuse to lend more money to Greece, but wealthy European countries, already skeptical about extending yet another ... (full story)