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Aftershocks Seen From Greek Swap

Borrowing costs could surge for other indebted nations.

By Rebecca Christie and Simon Kennedy, Bloomberg | Updated on March 08, 2012

Greece’s day of reckoning with bondholders dawns with economists from Barclays Capital to Deutsche Bank AG concerned that the world’s largest debt restructuring will provoke aftershocks.

Eight months of negotiations reach a head with today’s deadline for private creditors to accept a bond swap aimed at writing off 106 billion euros ($140 billion) of Greek debt. The government vows to bind holdouts to the deal should participation fall short of its target.

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