Traduction de «bondholder » (Anglais → Français) :

74. Regrets that the burden has not been shared among all who acted irresponsibly and that the protection of bondholders was seen as an EU necessity in the interests of financial stability; asks the Council to activate the framework it decided on the treatment of legacy assets so as to breakdown the vicious circle between sovereigns and the banks and alleviate the public debt burden in Ireland, Greece, Portugal and Cyprus; urges the Eurogroup to deliver on its commitment to examine the situation of the Irish financial sector with a view to further improving the sustainability of the adjustment in Ireland, and, having regard to all of t ...[+++]he above, urges the Eurogroup to make good on the commitment to Ireland to deal with this bank debt burden; believes special consideration should be given to the application of the Stability and Growth Pact to relevant legacy debt, since the latter is perceived in Ireland as unfair and as burdening the country under the flexibility provisions of the reformed pact; considers that in the longer term the distribution of the costs should reflect distribution of the protected bondholders; takes note of the Irish authorities' demand for a transfer of a share of public debt corresponding to the cost of the bailout of the financial sector to the ESM;

This is not a bailout but a sell-out: a sell-out, at EU insistence, to bondholders – senior, junior, secured, unsecured – every type, category and class of bondholder, while Irish taxpayers shoulder intolerable debt.

17. Calls on the Council to abandon its project of a ‘limited treaty change to set up the European Stability Mechanism’, as in its current conception the ESM would only serve to bail out the banks for the second time, while in return a self-defeating austerity drive is launched against the remnants of the welfare state, the incomes and living standards of ordinary people to pay back these debts; calls for an EU-wide solution that forces banks to recognise their losses and bondholders to recapitalise them if necessary, raising additional capital, first from the market and then by converting bondholders’ bonds into shares;

The competent authorities may recognise loans secured by commercial real estate as eligible where the Loan to Value ratio of 60 % is exceeded up to a maximum level of 70 % if the value of the total assets pledged as collateral for the covered bonds exceed the nominal amount outstanding on the covered bond by at least 10 %, and the bondholders' claim meets the legal certainty requirements set out in Annex VIII. The bondholders' claim must take priority over all other claims on the collateral.

In this environment, the original bondholders are actually selling or probably have sold off a lot of their assets, and they've been picked up by vulture bondholders.

The competent authorities may recognise loans secured by commercial real estate as eligible where the Loan to Value ratio of 60% is exceeded up to a maximum level of 70% if the value of the total assets pledged as collateral for the covered bonds exceed the nominal amount outstanding on the covered bond by at least 10%, and the bondholders' claim meets the legal certainty requirements set out in Annex VIII. The bondholders' claim must take priority over all other claims on the collateral.