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    • Member Info
      • Native Language:
      • Chinese
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      • China
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      • China

    • Join Date: Jul 2009
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    #1

    resort to...with

    Hello,

    "Greece resorted to a 2 billion ($2.8 billion) private placement of five-year floating-rate notes with local banks"

    the above sentence, Greece and local banks asked a private placement for help? or Greece asked a private placement which are local banks for help?

    Please help me understand it

    Thank you

  1. bhaisahab's Avatar
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      • British English
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      • England
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      • Ireland

    • Join Date: Apr 2008
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    #2

    Re: resort to...with

    Quote Originally Posted by idiotmike View Post
    Hello,

    "Greece resorted to a 2 billion ($2.8 billion) private placement of five-year floating-rate notes with local banks"

    the above sentence, Greece and local banks asked a private placement for help? or Greece asked a private placement which are local banks for help?

    Please help me understand it

    Thank you
    It's not very clear, but it seems to me that Greece placed (invested) 2 billion in local banks.

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