If Greece were to miss a payment of interest or principal on a Greek bond, creditors could sue for the missed payment.

BBC: Is a Greek default so bad for Greece?

In the case of insured bonds, where the interest payment is funded by a bond insurer or letter of credit issuer, the default is still the same.

FORBES: Even If A Bond Doesn't Default, You Can Still Lose Your Money

He asked about the annual schedule for interest payments and the broker responded with the dates from the bond, noting that no payment would be made for 12 months in the first year.

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