>   
>   (email exchange)
>   
>   On Tue, May 8, 2012 at 10:21 AM, John wrote:
>   
>   Norway’s oil sovereign wealth fund has sold all its holdings of Irish and Portuguese
>   government debt and reduced its ownership of Spanish and Italian bonds as part of a
>   continuing protest over its forced participation in Greece’s debt restructuring. The
>   fund also reduced its Italian sovereign debt position from about EUR 8bn in the middle
>   of 2011 to about EUR 3.5bn at the end of March this year.
>   

9 Responses

    1. @Neil Wilson, They added govt bonds from emerging mkts such as mexico, brazil and india to their portfolio.
      Doesn’t mean necessarily that they dumped euros, but likely.
      Looks like that Norwegian sov wealth fund just grows, grows and grows….:) but OK oil is coming down at the moment.

  1. This Norwegian protest looks to me as a very strong signal that with norwegian govt bonds in NOK you do not need to fear any PSI, haircut, no matter which self imposed restrictions they have.

      1. @FIN,

        risk-free? there’s no risk like letting progress go by;
        or uncertainty, for that matter 🙂

        Wasn’t there a biblical story about the Prodigal Sum?

Leave a Reply