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Small Bondholders Assail Haircut's OK

ste_910588383More than 100 small bondholders gathered on the morning of June 26 outside the Council of State and threatened to lynch every judge they saw.
What infuriated the small bondholders was information that the haircut of their bonds was upheld by the Council of State. The small bondholders had appealed to the Court of Cassation for the haircut in the Greek Government Bonds in which they had invested their lifetime efforts.
Their main slogan was “Support the savers”.
Police squads arrived outside the Council of State and things calmed down when the MP of the Independent Greeks party, Rahil Makri, who was there to support the small bondholders, met with the president of the Council of State, who assured her that the rumors are not valid and that the Council of State hasn’t expressed any opinion on this issue.
The president of the Council of State didn’t seem particularly annoyed by the leaks, which, as he said, are attributed to judges who have contacts with reporters.
The decision of the Council of State will be issued in late August or early September.

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