Good to see Greece has its priorities right

[BrilloPad]

'Vulture funds' circle as Greece fears grow - Business News - Business - The Independent

Kenneth Dart, the Michigan-born heir to a disposable cups fortune, was handed an estimated €400m (£320m) cheque from Greece this week, after successfully calling the country's bluff and refusing to take part in the restructuring of government debt that saved Greece from default in the spring.

Amid alarming reports of depositors withdrawing their cash from Greek banks, the government decided it could ill afford a showdown with Mr Dart's hedge fund, Dart Management, and similar "vulture funds" who have purchased Greek debt and are threatening to sue if the interest payments are not made.

Well done Greek politicians. Let your citizens starve while you delay the inevitable by another few days.

Oh well - at least atw will be pleased.

[SimonMac]

There are always people who will make money out of someone else's misfortune, that's life

[BrilloPad]

There are always people who will make money out of someone else's misfortune, that's life

True True. And Jesus said there will be poor always.

Does not mean it is right or that we should not object.

Personally I would like to see the Greek leaders bought to justice. But I have more chance of getting a present from Santa.

[SimonMac]

True True. And Jesus said there will be poor always.

Does not mean it is right or that we should not object.

Personally I would like to see the Greek leaders bought to justice. But I have more chance of getting a present from Santa.

Isn't this what some contractors do? I know there are times that I have been brought in because the Client is in the tulip and I exploit the fact by charging more than a permie?!

[BrilloPad]

Isn't this what some contractors do? I know there are times that I have been brought in because the Client is in the tulip and I exploit the fact by charging more than a permie?!

That is business. Well done.

So the client makes a bit less money - so what? In reality you are probably spreading money around which is great.

Now compare to the greek situation where the very poor are handing money over to the very rich. Not only is it unethical and disgusting, by reducing the velocity of money it sends us towards depression.

[tobibaker]

Good Point

I agree with you overall.

But the fact is that is that if he hadn't bought it somebody else would of.

I think that this is a prime example of smaller scale exploitation we get everyday, the only reason we have the ethical debate is because of the sums of money and the number of people involved.

Of course in the ideal business environment every body leaves the table happy with their chunk of the pie. Unfortunately this isn't a realistic.

That is business. Well done.

So the client makes a bit less money - so what? In reality you are probably spreading money around which is great.

Now compare to the greek situation where the very poor are handing money over to the very rich. Not only is it unethical and disgusting, by reducing the velocity of money it sends us towards depression.

[BlasterBates]

The Greeks are simply making a prudent decision. They´re making sure that they keep their credit rating status. By not paying 400 million would have cost an awful lot more as it may have triggered a deluge of Credit Default Swaps having to pay out. This was an investors game of chicken. If all investors had held out they would have all lost everything, so they all had to make a difficult decision, one investor held out and won. He could have easily have lost as have the Hedge Funds that bought up all these CDS´s thinking Greece wouldn´t settle with everyone....well they did and they lost. So it´s swings and roundabouts. Greece paid 400 million to save billions, they still need to go to the market for short term funds.

[Platypus]

Personally I would like to see the Greek leaders bought to justice.

Eh? What do you mean by this?

They were encouraged to fiddle the books to get in and encouraged to spend like crazy. Or were you referring to something else?

[Paddy]

Reports from Athens that huge sums of money were flowing out of the country intensified concerns about the impact of a splintering of the eurozone. One independent estimate put the cost to the eurozone of Greece making a disorderly exit from the currency at $US1 trillion.

CBA prepared for shocks if Greece quits euro

[Scoobos]

Why are we surprised.. the IMF hijacked the country didn't they?

How can we, even if it is about the zones finances , condone the expulsion without election of the current government and UNELECTED replacement by IMF cronies, who then take all the funds left in the treasury and distribute them among the financial powerhouses of the world?

Meanwhile we fight wars in the name of democracy.. Dont make me laugh.