Comments on: Will Greek CDS ever trade again? http://blogs.reuters.com/felix-salmon/2012/04/02/will-greek-cds-ever-trade-again/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: MrRFox http://blogs.reuters.com/felix-salmon/2012/04/02/will-greek-cds-ever-trade-again/comment-page-1/#comment-37529 Tue, 03 Apr 2012 05:05:22 +0000 http://blogs.reuters.com/felix-salmon/?p=12938#comment-37529 IMO a bigger headache for Greece and EZ governments is the probability that Greek assets in the foreign law jurisdictions will be “attached” as part of litigation in those jurisdictions to collect on the foreign-law bonds. That’s how I’d play it if was representing a holder of such bonds.

As far as CDSs go – who’s going to write one that is already collectable? Who’s going to buy one that can’t be collected on?

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By: y2kurtus http://blogs.reuters.com/felix-salmon/2012/04/02/will-greek-cds-ever-trade-again/comment-page-1/#comment-37523 Tue, 03 Apr 2012 01:13:08 +0000 http://blogs.reuters.com/felix-salmon/?p=12938#comment-37523 MattL your language is great but the “trick” would be getting people to actually buy the CDS when Greece had a current default already outstanding.

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By: MattL http://blogs.reuters.com/felix-salmon/2012/04/02/will-greek-cds-ever-trade-again/comment-page-1/#comment-37517 Mon, 02 Apr 2012 21:38:24 +0000 http://blogs.reuters.com/felix-salmon/?p=12938#comment-37517 Why would it be non-trivial to ring-fence that debt? I could probably write it in a sentence. Goes something like “Notwithstanding anything to the contrary anywhere, any Greek debt issued before March 9, 2011 shall not be a Reference Obligation or Deliverable Obligation, and no event of default on such debt shall constitute a Credit Event.” Slap it in the confirm and done, trivial.

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