Detailed market commentary at The Market Ticker
(The Year 2012 In Review)
You are not signed on; if you are a visitor please register for a free account!
|MarketTicker Forums Single Post Display (Show in context)||
User: Not logged on
|User Info||FLASH: Greece Deal Supposedly Made; entered at 2012-02-20 21:22:40|
Registered: 2011-03-16 Pasadena, CA
As I understand it, this establishes at least two seniority levels of debt. ECB and private. ECB gets no haircut, private holders take the haircut.|
That means CDS triggers go off. Thats a big difference from other deals before now.
Mannfm11 has a good point. If you are going to default, why not make it useful and go BIG?