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Have we done the Greek default which is not a default may actually be a default

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    Have we done the Greek default which is not a default may actually be a default

    Greek default looms as voluntary debt deal looks set to fail - Telegraph

    Authorities in Athens are ready to enforce the controversial collective action clauses, or CACs, to impose the restructuring deal on all bondholders as the number of voluntary agreements look set to fall short of the required amount.
    Credit rating agencies have warned they will declare Athens to be in default if the CACs are triggered
    You couldn't make this story up well you could but no one would believe you.
    merely at clientco for the entertainment

    #2
    Originally posted by eek View Post
    Greek default looms as voluntary debt deal looks set to fail - Telegraph


    You couldn't make this story up well you could but no one would believe you.

    We did the Greek default which is not a default, but the may actually be a default is new !

    Comment


      #3
      nothing to see here - move along
      "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

      Comment


        #4
        It's not a default for so-called CDS "insurance" as far as those banks who "insured" tulip quality debt for $$$ are concerned.

        Lawyers are eagerly awaiting their hedge funds clients to instruct them.

        HTH

        Comment


          #5
          Originally posted by AtW View Post
          It's not a default for so-called CDS "insurance" as far as those banks who "insured" tulip quality debt for $$$ are concerned.

          Lawyers are eagerly awaiting their hedge funds clients to instruct them.

          HTH
          The CDS will pay out if the CACs are triggered. If they don't, the ISDA loses all credibility and CDS everywhere else become worthless (which would be very bad).
          "A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester Freamon

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            #6
            Originally posted by Freamon View Post
            If they don't, the ISDA loses all credibility and CDS everywhere else become worthless (which would be very bad).
            But amusing in it's own way.
            While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

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              #7
              Originally posted by Freamon View Post
              The CDS will pay out if the CACs are triggered. If they don't, the ISDA loses all credibility and CDS everywhere else become worthless (which would be very bad).
              I think it would be good if CDS disappeared - some things are illegal to insure and business risk should be one of them. Basically investment is inherently risky and anybody who creates a scheme involving insurance of that kind should go straight to jail.

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                #8
                I still think this time the bailout will go through - the default will be later this year. But I hope I am wrong - the sooner the default happens the sooner the Greek people will stop suffering austerity at the hands of the Germans. Why the Greks put up with it is quite beyond me.

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                  #9
                  Originally posted by BrilloPad View Post
                  the sooner the default happens the sooner the Greek people will stop suffering austerity at the hands of the Germans.
                  How exactly did you arrive to that conclusion (nevermind Germans bit)?

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                    #10
                    This stuff is starting to get way too complicated for me.

                    To those who understand these financial instrument thingies, I require simple answers to the following questions:

                    -Is the world going to end ?

                    -Will I still be able to buy feta cheese in a weeks time?

                    Comment

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