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by BullBear
March 9th, 2012, 6:58 pm
Forum: Economics Forum
Topic: Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"
Replies: 18
Views: 16055

Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"

<t>People are saying in the news that the ISDA is going to declare a credit event but the it appears the net-exposure is residual. Maybe no one knows what the real exposure is. We'll see.Anyway, now We know that holding sovereign debt of a Eurozone country is a very "defaultable" investment. Who's n...
by BullBear
March 9th, 2012, 9:54 am
Forum: Economics Forum
Topic: Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"
Replies: 18
Views: 16055

Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"

<t>This is not a voluntary debt pardoning! I think CDS contracts on Greece will soon be triggered. We'll see which Banks will take the damage.Greece Creditors Forced To Take Haircuts TOKYO (Dow Jones)--The euro fell against the dollar and yen in late Asian trading Friday following an announcement th...
by BullBear
March 8th, 2012, 10:31 am
Forum: Economics Forum
Topic: Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"
Replies: 18
Views: 16055

Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"

<t>QuoteOriginally posted by: crmorcomOne has to imagine that most of the holdouts are only using their bond positions to force Greece into a CAC which will then make their CDS pay off. It will be very interesting to see what protection is owned by whom if/when a credit event is declared. And the po...
by BullBear
March 8th, 2012, 10:25 am
Forum: Economics Forum
Topic: Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"
Replies: 18
Views: 16055

Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"

<t>QuoteOriginally posted by: farmerIf somebody misses a coupon, that is a default. I am not in the business, but life is too short to learn any examples more complicated than that.Not exactly.A credit event depends on the definition of each CDS contract.There are six standard credit events in the I...
by BullBear
March 7th, 2012, 9:13 am
Forum: Economics Forum
Topic: Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"
Replies: 18
Views: 16055

Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"

<r><URL url="http://www.cnbc.com/id/46650489Athens">http://www.cnbc.com/id/46650489Athens</URL> Issues Threat to Bond Holdouts Greece has threatened to default on any of its bondholders who do not take part in a 206 billion euros debt restructuring that officials believe is key to returning Athens t...
by BullBear
March 6th, 2012, 3:55 pm
Forum: Economics Forum
Topic: Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"
Replies: 18
Views: 16055

Venizelos: "Whoever thinks that they will hold out and be paid in full, is mistaken"

<t>Shouldn't coercion and intimidation trigger a credit event?This threat shows the debt swap isn't voluntary.Venizelos threatens defaultVenizelos: We are ready to activate CACsGreek Finance Minister Evangelos Venizelos warned Athens΄ private creditors on Monday not to hold out but take the bond swa...
by BullBear
February 20th, 2012, 10:17 am
Forum: Economics Forum
Topic: Greece - leave the EUR & default?
Replies: 94
Views: 21430

Greece - leave the EUR & default?

<t>Greece must default if it wants democracyBy Wolfgang MünchauWhen Wolfgang Schäuble proposed that Greece should postpone its elections as a condition for further help, I knew that the game would soon be up. We are at the point where success is no longer compatible with democracy. The German financ...
by BullBear
February 17th, 2012, 7:22 pm
Forum: Economics Forum
Topic: Greece - leave the EUR & default?
Replies: 94
Views: 21430

Greece - leave the EUR & default?

<t>QuoteOriginally posted by: celalaAlthough it sounds like the last thing that would happen, my best guess for Greece is that it will be "asked to leave" at some point of time, essentially, because I dont think they will decide to leave and I dont think they can stay, as the country is a black hole...
by BullBear
February 17th, 2012, 12:12 pm
Forum: Economics Forum
Topic: Greece - leave the EUR & default?
Replies: 94
Views: 21430

Greece - leave the EUR & default?

<t>QuoteOriginally posted by: TitanPartnersGreece defaulting is not the same as leaving the Euro. A default means that the bond holders get some or none of their money back which they lent to the Greek state, holding no collateral in return. As a consequence this means that a disorderly default woul...
by BullBear
February 15th, 2012, 10:55 am
Forum: Economics Forum
Topic: Greece - leave the EUR & default?
Replies: 94
Views: 21430

Greece - leave the EUR & default?

<t>QuoteOriginally posted by: McWulfQuoteOriginally posted by: BullBearQuoteOriginally posted by: McWulfThere must be a belief that Greece can be saved. The dream of a single currency is still very strong around the Euro zone.Why should Greeks care with that dream which brought them to their doom? A...
by BullBear
February 13th, 2012, 4:50 pm
Forum: Economics Forum
Topic: Greece - leave the EUR & default?
Replies: 94
Views: 21430

Greece - leave the EUR & default?

<t>QuoteOriginally posted by: McWulfThere must be a belief that Greece can be saved. The dream of a single currency is still very strong around the Euro zone.Why should Greeks care with that dream which brought them to their doom? As we're seeing the EUR/EU is a nightmare, it's not a dream. Maybe it...
by BullBear
February 13th, 2012, 3:19 pm
Forum: Economics Forum
Topic: Greece - leave the EUR & default?
Replies: 94
Views: 21430

Greece - leave the EUR & default?

<t>What are the incentives for Greece to not to default on its debt and keep the EUR? I can't get it after all what they've been doing and if no EU court will force them to sell assets.We all know they are bankrupt, they lost sovereignty but still can be forced to exit the EUR, asset prices their co...
by BullBear
January 21st, 2012, 10:41 pm
Forum: Economics Forum
Topic: Greece Default - Stealing Internal Creditors to Pay External Creditors (ECB, IMF)
Replies: 7
Views: 16211

Greece Default - Stealing Internal Creditors to Pay External Creditors (ECB, IMF)

<t>QuoteOriginally posted by: Traden4AlphaFrankly, I don't understand why resident creditors should be favoured at all. They are the ones that most likely benefited from government spending created by the loans in the first place.Moreover, the IMF and ECB stepped in to save Greece. If a troubled deb...
by BullBear
January 20th, 2012, 10:09 pm
Forum: Economics Forum
Topic: Greece Default - Stealing Internal Creditors to Pay External Creditors (ECB, IMF)
Replies: 7
Views: 16211

Greece Default - Stealing Internal Creditors to Pay External Creditors (ECB, IMF)

The Greeks are a bunch of "Pussies" by imposing losses on their own citizens so they can repay in full Merkel & Sarkozy.
by BullBear
January 20th, 2012, 6:24 pm
Forum: Economics Forum
Topic: Greece Default - Stealing Internal Creditors to Pay External Creditors (ECB, IMF)
Replies: 7
Views: 16211

Greece Default - Stealing Internal Creditors to Pay External Creditors (ECB, IMF)

<t>Stealing Internal Creditors to Pay External Creditors (ECB, IMF)?The ECB & the IMF won't participate in the Loss Agreement with Greece so they will receive 100% while other creditors - including Greek resident creditors - will take a 60% loss? wow! I wonder how will Greek Creditors remain sti...
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