Comments on: Greece gets tough on potential holdouts http://blogs.reuters.com/felix-salmon/2012/03/06/greece-gets-tough-on-potential-holdouts/ A slice of lime in the soda Sat, 25 May 2013 16:48:33 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: santcugat http://blogs.reuters.com/felix-salmon/2012/03/06/greece-gets-tough-on-potential-holdouts/comment-page-1/#comment-36608 santcugat Wed, 07 Mar 2012 09:21:44 +0000 http://blogs.reuters.com/felix-salmon/?p=12348#comment-36608 It strikes me as likely that Greece is still trying to do this without actually defaulting. Otherwise, why bother going through with the vote? Just unilateraly swap the Greek law bonds and be done with it. "does not contemplate the availability of funds" doesn't really mean anything concrete. It could just mean that they are hoping everyone votes yes. Sounds like a non-threat threat (sort of the moral equivilent of a non-denial denial). It strikes me as likely that Greece is still trying to do this without actually defaulting. Otherwise, why bother going through with the vote? Just unilateraly swap the Greek law bonds and be done with it.

“does not contemplate the availability of funds” doesn’t really mean anything concrete. It could just mean that they are hoping everyone votes yes. Sounds like a non-threat threat (sort of the moral equivilent of a non-denial denial).

]]> By: Gennitydo http://blogs.reuters.com/felix-salmon/2012/03/06/greece-gets-tough-on-potential-holdouts/comment-page-1/#comment-36601 Gennitydo Wed, 07 Mar 2012 03:17:49 +0000 http://blogs.reuters.com/felix-salmon/?p=12348#comment-36601 I am not sure this is a change Felix. It depends on what is meant by "sufficient" in the first line of para 2. Sufficient could be 90% or 75% or 66%. The press statement leaves this ambiguous. I see this as more of a shot across the bow. A warning to participate in the PSI or else. I doubt anyone will be moved by this kind of aggressive rhetoric. I didn't work for Argentina and they (or rather Cleary on their behalf) ended up the SDNY anyway. I'll lay odds that there are insufficient consents and Greece announces a re-opening of the PSI on Monday morning. I am not sure this is a change Felix. It depends on what is meant by “sufficient” in the first line of para 2. Sufficient could be 90% or 75% or 66%. The press statement leaves this ambiguous.

I see this as more of a shot across the bow. A warning to participate in the PSI or else. I doubt anyone will be moved by this kind of aggressive rhetoric. I didn’t work for Argentina and they (or rather Cleary on their behalf) ended up the SDNY anyway.

I’ll lay odds that there are insufficient consents and Greece announces a re-opening of the PSI on Monday morning.

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