The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
You're grasping at straws with your "follow the money".
Guilty as charged...
I'm still looking for a tangible villain. Given the mechanical inevitability of default for Greece (barring a deus-ex-machina from the ECB, which I think we can agree is not on the cards), the smart money is presumably gaming the ECB's stupidity for all it's worth.
The most obvious way of doing this is by buying CDS.
Therefore, anyone taking a major bet on Greek default, through a CDS position, may wish to influence outcomes by blocking off all alternatives to full payment (impossible) or default (jackpot).
Ratings agencies which declare "anything which is different from full payment (e.g. voluntary rollover) is equivalent to default" would seem to fit with such a strategy.
The head of a ratings agency who secretly held a massive CDS position might make a satisfying villain.
Just thinking out loud here.
It is rightly acknowledged that people of faith have no monopoly of virtue
- Queen Elizabeth II
by DoDo - Dec 21 2 comments
by Democrats Ramshield - Dec 16 4 comments
by ARGeezer - Dec 15 63 comments
by Democrats Ramshield - Dec 20 5 comments
by gmoke - Dec 2 8 comments
by das monde - Dec 14 19 comments
by LEP - Dec 9 26 comments
by gmoke - Dec 17
by DoDo - Dec 212 comments
by Democrats Ramshield - Dec 205 comments
by gmoke - Dec 17
by ReGiNuss - Dec 172 comments
by Democrats Ramshield - Dec 164 comments
by ARGeezer - Dec 1563 comments
by das monde - Dec 1419 comments
by LEP - Dec 926 comments
by ARGeezer - Dec 816 comments
by gmoke - Dec 72 comments
by rz - Dec 415 comments
by gmoke - Dec 28 comments
by A swedish kind of death - Dec 233 comments
by rz - Nov 3071 comments
by Migeru - Nov 2959 comments
by ARGeezer - Nov 242 comments
by Cyrille - Nov 247 comments
by gmoke - Nov 1916 comments