The proposed Greek referendum on last weeks "agreed" $1TR+ bailout raises the possibility of a full Greek default. None of this "haircut" BS... So what are the implications? According to one blogger http://economistonline.muogao.com/2011/10/who-owns-greek-debt.html#comments, Greece has total debts of â¬346.4bn. About a third of this debt is in public hands (34.8% is attributable to the IMF, ECB and European governments), roughly another third is in Greek hands (28.8%, essentially for banks) with the remainder (36.4%) held by non-Greek private investors. (Market â¬125.9 BN, Greek & Cypriot banks â¬74BN, ECB â¬55BN, ..) ECB holdings are probably bigger than â¬55BN now I guess due to bond buying operations? Can they just write off the loss in the event of a full default? And the CDS holders in Greek debt - now they get paid?