Greece's braces for more protesting

New legislation, set to be put to the vote tonight, would retrofit Greek bonds with collective-action clauses. The measures will attempt to force losses on those bond holders likely to resist voluntary debt restructuring. The reforms would see private sector creditors - who currently own approximately €200 billion of Greek bonds - take a 53.3% cut. Despite the severity of the restructuring, Greece’s government hopes at least two thirds of all bond holders will participate in the voluntary debt exchange.