In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Thursday, June 02, 2011

Greece Report: Agreement on New Bailout, Some Investor Participation, No "intrusive" Supervision

by Calculated Risk on 6/02/2011 02:22:00 PM

There are no specifics yet ...

From Reuters: EU agrees in principle on new Greek plan-source

Senior euro zone officials have agreed in principle on a new three-year adjustment programme for Greece to run until mid-2014 ... involve some participation of private sector investors ... involve detailed commitments by Greece on the governance of a new national wealth agency and the timing of specific privatisations, but it would stop short of intrusive international supervision ...
There had been some discussion of "adult supervision" or what some were calling the loss of Greek sovereignty - apparently that isn't included. It isn't clear what the "participation of private sector investors" means, but the article suggests it will not trigger a credit event.