I just read the most astonishing/last Greece step about its debt: the government decided to repay in full a 450mUSD-loan maturing yesterday.
So basically, euro-zone countries and banks had to sit their ass on more than 150billion EUR of greek-debt while in the meantime, Greeks partly used this money to repay... Hedge Funds which bought this 450mUSD loan, speculating Greece would finally pay more than what the level at which they bought it... and they were right!!
Smthing goes seriously wrong in europe
Edit: Greece is out of the Euro... at least in football ;-) gg wp both
So basically, euro-zone countries and banks had to sit their ass on more than 150billion EUR of greek-debt while in the meantime, Greeks partly used this money to repay... Hedge Funds which bought this 450mUSD loan, speculating Greece would finally pay more than what the level at which they bought it... and they were right!!
Smthing goes seriously wrong in europe
Edit: Greece is out of the Euro... at least in football ;-) gg wp both
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Edited by Goth4m at 15:47 CDT, 22 June 2012 - 49878 Hits
helping them was a mistake in first place, now whole europe have to deal with it...