Judgment_paragraph 103 · Frank Steinhoff and Others v European Central Bank (T-107/17)

103Law No 4050/2012 thus made it possible to force the holders of Greek bonds to participate in the reduction of the Greek public debt by devaluing the value of the bonds as soon as that reduction had been approved by the quorum of their holders. That law thus varied the rights of the holders of Greek bonds even though the terms governing their issuance did not contain review clauses.