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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Compliance/Regulation/Legal

Norway oil fund rejected Greek debt swap, CEO Slyngstad says

Posted on 19 March 2012

Norway’s sovereign-wealth fund rejected the Greek debt swap because it disagreed with the different treatment given to the European Central Bank, according to chief executive officer Yngve Slyngstad.
“It’s very important to create trust in the markets,” Slyngstad said in an interview in Oslo. “To create trust you have to stay by the rules and therefore to give preferential treatment or to give collective-action clauses retroactive use is challenging. We said ‘no’ on a principle basis.” ……………………………………….Full Article: Source


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