Anyone that loaned Greek governments a dollar will be getting 30 cents on the dollar. Even the insurance for bonds (CDS) will take a big haircut.
This is just a phased default. Greece will eventually screw anyone that loaned them money.
Just like we will do to China. Eventually.
I guess there will be a silver lining in all this after all.
Not quite...they’re NOT being repaid 30% on the dolalr..they’re being forced to ROLL OVER their debt after taking the hair cut..it’s all smoke and mirrors, and will blow up in another year or so..
“Anyone that loaned Greek governments a dollar”
Obviously, these “Anyones” are not coupon clippers.
And this is just ignorant, wild speculation, but is it possible the likes of George Soros, could be the losers?
It seems he wins at everything, but at some point caught in his own net?