{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='UK markets react to Greek bond deal, analyst comments' data-url='/boclips/videos/5c54c0f4d8eafeecae14ead5' data-video-url='/boclips/videos/5c54c0f4d8eafeecae14ead5' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUK markets react to Greek bond deal, analyst comments\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Various of staff, from electronic brokerage BGC Partners LP, seated at their computers 2. SOUNDBITE (English) Louise Cooper, Senior Financial Analyst, BGC Partners LP, London:\"The new bonds, the new Greek bonds are trading today for...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Various of staff, from electronic brokerage BGC Partners LP, seated at their computers \u003cbr/\u003e2. SOUNDBITE (English) Louise Cooper, Senior Financial Analyst, BGC Partners LP, London:\u003cbr/\u003e\"The new bonds, the new Greek bonds are trading today for the first time and essentially they are trading like junk bonds, they are trading junk status. So effectively, if Greece was saved, its new bonds would not be trading like junk. They are trading at higher borrowing costs than Portugal, they are still trading at the highest yields in the whole of the eurozone, so very clearly, this is not a problem that has been solved. The biggest sovereign debt restructuring ever, and it still hasn't been solved. Greece has still unsustainable levels of debt.\"\u003cbr/\u003e3. Cutaway of BCG staff working \u003cbr/\u003e4. SOUNDBITE (English) Louise Cooper, Senior Financial Analyst, BGC Partners LP, London:\u003cbr/\u003e\"So I imagine there was massive political pressure, to do this deal. The trouble is that when the next country comes and says I want to do a voluntary debt swap, which I think will happen, Portugal perhaps, then the investors will be less keen to play the game, having experienced the disaster of Greece.\" \u003cbr/\u003e5. Various of BGC staff working\u003cbr/\u003e6. SOUNDBITE (English) Louise Cooper, Senior Financial Analyst, BGC Partners LP, London:\u003cbr/\u003e\"I think the eurozone finance ministers today will be all about rubber stamping the bailout, Greece's bailout funds. IMF (International Monetary Fund) later this week is also going to rubber stamp the bailout funds contributed to Greece. What will be interesting though, will be the discussions on Portugal and Spain, but I wonder if much will be said about them publicly. But the eurozone finance ministers must be looking at Portugal next, because no matter what the politicians say, that country is in need of extra bailout money.\"\u003cbr/\u003e7. Wide of BCG staff at computers \u003cbr/\u003eNew Greek bonds worth half their original value were trading for the first time on Monday, after the largest restructuring of government debt in history. \u003cbr/\u003eGreece is swapping its privately held bonds issued under Greek law with new ones worth less than half their original value.\u003cbr/\u003eGreece secured the debt swap last Friday, paving the way for a second international bailout. \u003cbr/\u003eFinancial analyst Louise Cooper, from electronic brokerage BGC Partners in London, said the new bonds had not \"saved\" Greece. \u003cbr/\u003e\"If Greece was saved, its new bonds would not be trading like junk. They are trading at higher borrowing costs than Portugal, they are still trading at the highest yields in the whole of the eurozone, so very clearly, this is not a problem that has been solved,\" Cooper said. \u003cbr/\u003eCooper predicted that Greece would still need further bailout money, even after it receives the latest funds.\u003cbr/\u003eFinance ministers from the 17 eurozone nations are to meet in Brussels later on Monday, where they will discuss releasing funds from a 130 (b) billion euro (172 (b) billion US dollar) second bailout.\u003cbr/\u003eIn Friday's agreement, 83.5 percent of private investors holding Greek debt agreed to the deal, which will see them face real losses of more than 70 percent on their holdings. \u003cbr/\u003eOf the investors holding the 177 (b) billion euros (234 (b) billion US dollars) in bonds governed by Greek law, 85.8 percent joined. \u003cbr/\u003eThe deadline for foreign-law bonds has been extended to March 23.\u003cbr/\u003eCooper said there had been \"massive political pressure\" on investors to agree to the deal. \u003cbr/\u003e\"The trouble is that when the next country comes and says I want to do a voluntary debt swap, which I think will happen, Portugal perhaps, then the investors will be less keen to play the game, having experienced the disaster of Greece,\" she said.  \u003cbr/\u003eCooper said investors expected that Monday's Eurogroup meeting would simply \"rubber stamp\" the latest slice of bailout money for Greece.\u003cbr/\u003eBut she said it was likely that the situation in Portugal and Spain would also be discussed on the sidelines.\u003cbr/\u003e\"The eurozone finance ministers must be looking at Portugal next, because no matter what the politicians say, that country is in need of extra bailout money,\" she said. \u003cbr/\u003eMarkets were steady on Monday ahead of the finance ministers' meeting.\u003cbr/\u003eIn London, the FTSE 100 index of leading British shares was flat at 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