Luxembourg Prime Minister, Jean-Claude Juncker’s declaration the Greece’s debt could be reprofiled, raised concerns about the payment of bondholders. According to speculations, they will be forced to take losses. The possibility of tinkering with the Mediterranean’s country debt repayment terms is part of an aid plan. Greek bond maturities’ reprofiling will probably make part of a special rescue package which includes deeper spending cuts and stepped-up sales of state properties.

Recently European finance chiefs have decided to endorse a $111 billion (78 billion-euro) rescue for Portugal. For 2013 a permanent European rescue fund is scheduled and should be used for countries deemed insolvent.

According to officials, the impacts of the recent decisions about Portugal and Greece have been slightly positive, since market is well-supported and the spreads have been trading well-behaved.

However, some costs of the rescue procedures will be shifted to private bondholders by European governments, which have relied on taxpayer-funded help to reinforce region’s sovereign debt crisis.

According to specialists, the market seems for the moment to interpret ‘reprofiling’ as meaning not a restructuration, but just a maturities extension. However, if governments reduce the burden on Greece and at the same time avoid privately held bonds’ write-downs, it could send a positive message for the market.