Extracts from the EC Midday press briefing by Amadeu Altafaj Tardio, Spokesperson of Olli Rehn, on private sector participation in the second Greek programme
On 9 March 2012, Amadeu Altafaj Tardio, Spokesperson of Olli Rehn, Member of the EC in charge of Economic and Monetary participated in the EC Midday press briefing, in Brussels.
On this occasion, he expressed the satisfaction of the European Commission on the turnout in Greece's debt exchange offer and expects the Greek government to maintain its commitment to rigorous economic reforms in a timely manner.
The comments came after the Greek government announced an 83% turnout in the country's 206 billion euro debt restructuring, which would rise to 95.7% after collective-action clauses are activated. Private bond holders will tender their bonds for new ones at less than half their value as part of a massive debt exchange aimed at preventing a disorderly default. SHOTLIST