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 - May 1 18 comments
by Frank Schnittger - Apr 30 3 comments
by gmoke - Apr 28 7 comments
by Bernard - Apr 24 27 comments
by Frank Schnittger - Apr 27 12 comments
by Frank Schnittger - Apr 27 25 comments
by Frank Schnittger - May 4
by DoDo - May 118 comments
by Frank Schnittger - Apr 303 comments
by gmoke - Apr 287 comments
by Frank Schnittger - Apr 2712 comments
by Frank Schnittger - Apr 2725 comments
by Bernard - Apr 2427 comments
by gmoke - Apr 11
by Bernard - Apr 65 comments
by marco - Apr 430 comments