URGENT: Greek bond private holders!
Unfortunately our worst fears are being confirmed: The Eurogroup and the Greek government announced that all private holders of Greek State bonds by virtue of the so called “collective action clause” (CAC) will be forced to participate to the bonds swap although they did not consent to it.
We consider this as unconventional and totally unlawful falling short to the requirements of the art. 1 protocol No 1 of the European Convention of Human rights as it has been signed by the Republic of Greece. We also feel it violates the disposals of the Hellenic Constitution and other national texts challenging the existence of such collective action clauses.