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nutmeg

Registered: Jan 2007
Posts: 18230

10-26-11 12:07 AM

question.

If Greece owes the world 500b, this is not a large amount. Lehman's bk was 650b , which was 1 bank in one building in new york. The eu is going to collapse over 500b?

I am missing something here.

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Martinghoul

Registered: Jan 2009
Posts: 5641

10-26-11 12:08 AM

Quote from nutmeg:
question.

If Greece owes the world 500b, this is not a large amount. Lehman's bk was 650b , which was 1 bank in one building in new york. The eu is going to collapse over 500b?

I am missing something here.

Greece, taken by itself, is irrelevant. Just like in the case of Leh, it's the ripple effects that matter.

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Happy Hopping

Registered: Oct 2006
Posts: 252

10-26-11 06:19 AM

http://www.spiegel.de/international...,793719,00.html

and $1T on bailout fund.

At 60% forgiveness, whoever owns those Greek bond are virtually finish

German Chancellor Angela Merkel has told German lawmakers that the financial strength of the euro rescue fund, the European Financial Stability Facility, is to be leveraged to €1 trillion ($1.39 billion), and that a Greek debt cut of up to 60 percent is planned, opposition leaders said on Monday

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boris925

Registered: Aug 2009
Posts: 4

10-27-11 01:13 PM

Just heard on the radio....but not clearly.

The decision on greece has been made, investors who owned greek bonds lost 50%.

Can you confirm if this is the case? and what is the effect for the rest of the world?

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T|N|X

Registered: Jul 2008
Posts: 5

10-28-11 04:33 PM

Confirmed!

http://rt.com/news/greek-debt-write-off-843/
http://www.nytimes.com/2011/10/28/w...o-cut-debt.html
http://www.businessweek.com/news/20...to-clients.html

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T|N|X

Registered: Jul 2008
Posts: 5

10-28-11 04:36 PM

Confirmed!

http://www.nytimes.com/2011/10/28/w...o-cut-debt.html
http://rt.com/news/greek-debt-write-off-843/
http://www.businessweek.com/news/20...to-clients.html

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