Is this a #DebtJubilee Kickoff? Poland Cancels Sovereign Debt By Nationalizing a Portion of the Private Pension System

“The Polish government said Wednesday that it would reduce the role private funds play in the country’s pension system by getting them to transfer sovereign bond holdings worth around $37 billion to the state.”

“Finance Minister Jacek Rostowski said Wednesday that the pension system overhaul should immediately lower public finance debt as a share of GDP by 8 percentage “

-          ING, Aviva, AXA, and a few other GWRE customers were directly affected.

Start Here:                          Poland seizes bond investments in private pension plans | Wintery Knight http://bit.ly/15NWN6Y

Then go here:                    Poland Tells Private Funds to Hand Over Bonds - Emerging Europe Real Time - WSJ http://on.wsj.com/1azP0Bp

And here:                            Poland to Cancel Bonds From Pension Funds in System Revamp - Bloomberg  http://bloom.bg/15N7Y5L

Additional Viewpoints:

WND:                                    Polish Government confiscates half of citizens’ pensions  http://bit.ly/1azT8S7

Ratings Version:               RPT-Fitch: Pension change looks neutral for Polish sovereign | Reuters http://reut.rs/1azNm2N

Extreme Version:             Poland steals half of private pension funds to “cut” sovereign debt | http://bit.ly/1azOgwk

Trader Version:                 Cyprus Bailin Goes Mainstream! Ireland On Tap  http://bit.ly/14tdR7j