| Author (Person) | Wiesmann, Gerrit, Wilson, James |
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| Series Title | Financial Times |
| Series Details | 13.3.12 |
| Publication Date | 13/03/2012 |
| Content Type | News |
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Article reported that a German law firm was preparing in march 2012 lawsuits against banks and the Greek state on behalf of holders of Greek bonds who have been forced to take part in the 9 March 2012 €206bn debt swap, the biggest sovereign restructuring in history. The intention to represent more than 200 mainly small investors in a class-action suit was the first such challenge announced following the exchange engineered earlier in March 2012, which cut Athens’ debt burden by more than €100bn. While a challenge by small investors was not a threat to the agreed swap article suggested that it could prove a distraction for banks dragged into any lawsuit. It also underlined simmering tensions within Germany about the cost to the country of efforts to help Greece reduce its debt burden. |
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| Countries / Regions | Europe, Germany, Greece |
