The Greek government's deadline for the biggest sovereign restructuring in history approached with a majority of investors signaling their readiness to participate in the debt swap.
The euro and stocks gained before the offer's close at 10 p.m. in Athens today as Greek Prime Minister Lucas Papademos told his Cabinet ministers that Greece had made “an appropriate framework with significant incentives” for bondholders.
“For this reason I look forward to the maximum possible participation of the private sector,” Papademos said, according to an e-mailed transcript of his comments. Finance Minister Evangelos Venizelos told Parliament that “a historic process will be completed tonight,” and the results announced tomorrow.
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