How does that bail-in instrument work again?
FT Alphaville » Greece 2015-08-18
Summary:
Following the results of the Asset Quality Review and Stress Tests before the end of the year, the bail in instrument will apply for senior debt bondholders whereas bail in of depositors is excluded.
– Eurogroup statement on Greece, August 14th
Which ‘instrument’ might that be for wiping the senior bonds of under-capitalised Greek banks?
Continue reading: How does that bail-in instrument work again?