Greece on verge of breakthrough in deal to cancel 70% of debt

[d000hg]

It's practical bankrupcy in any case anyway.

Yes but Sas staked his reputation on it being a default not "practically nearly a default", so wouldn't you rather hang him out to dry?

[scooterscot]

You're just trying to wiggle off the hook you put yourself on by starting a "Greece WILL default" thread.

Agreed.

It just has, you cretin.

I'll not hold my breath if CDS are not paid out on Monday.

[scooterscot]

Yes but Sas staked his reputation on it being a default not "practically nearly a default", so wouldn't you rather hang him out to dry?

Reputation?

[d000hg]

Reputation?

In Sasguru land, he has quite a reputation as an astute commentator on all matters regarding the global economy.

[AtW]

In Sasguru land, he has quite a reputation as an astute commentator on all matters regarding the global economy.

Who doesn't?

[BrilloPad]

IMO default should be decided by whether or not the CDS pays up. Alot of financial institutions will be hedged with CDS so would rather a default went ahead.

[BrilloPad]

Greek debt deal hits setback as talks suspended

Crucial talks over a debt deal between lenders and the Greek government were suspended over the weekend as the representative of bondholders flew out of Athens empty handed.

Greek debt deal hits setback as talks suspended - Telegraph

What a suprise....

[Freamon]

IMO default should be decided by whether or not the CDS pays up. Alot of financial institutions will be hedged with CDS so would rather a default went ahead.

CDS are zero sum - a lot of other financial institutions will have sold CDS, so would rather Greece didn't trigger an event of default.

[eek]

CDS are zero sum - a lot of other financial institutions will have sold CDS, so would rather Greece didn't trigger an event of default.

Rumour has it that 45% of greek bonds are now owned by hedge funds who are banking on CDS payouts.

[BrilloPad]

CDS are zero sum - a lot of other financial institutions will have sold CDS, so would rather Greece didn't trigger an event of default.

Absolutely - but if they have sold the CDS they are probably not bondholders? Doesn't the greek government negotiate with the bondholders?