According to the Association of Greek government’s Individual Bondholders, 15 bondholders have committed suicide over the past few months. The latest suicide was recorded on Saturday, January 11, 2014. It is worth mentioning that Greece’s small bondholders saw their lifetime savings lost within one night, when the Greek government decided on the Greek bonds “haircut.”
It is estimated that Individual bondholders owned bonds worth 1.2 billion euros in total. The majority possessed bonds worth 5,000-150,000 euros.
After the “haircut,” 53.5 percent of the bonds’ value was automatically lost. The remaining 46.5 percent was covered by new bonds — 15 percent of which comes from EFSF and will expire in 2014 or 2015 and 31.5 percent were covered by bonds with an expiration date from 2027-2042.
Bondholers who owned bonds worth 100,000 euros will receive only 15,000 euros, losing about 53,500 euros definitively and will have to wait several years to receive the remaining 31,500 euros.
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