Originally Posted by Stormin_Norman
Originally Posted by antelope_sniper
Originally Posted by Stormin Norman
I think the IMF owns most of the bonds, which are now worthless which they probably had planned for


Norman, the IMF owns about 10% of the Greek debt. Most is actually owned by the European Financial Stability Facility (EFSF). This is a large fund, backed by 14 European governments that raised this capital by issuing bonds. These bonds were purchased by the following investor classes:

Commercial Banks: 39%
Central Banks and governments : 30%
Mutual funds/Hedge funds: 23%
Pensions: 7%
Other: 1%

Most of the funding came from Euro denominated countries, only 2% came from the Americas.

As for Pete, the UK and Switzerland combined kicked in 16%

As for the value of these bonds, they continue to trade in the financial markets, however, they valued off the "full faith and credit" of the 14 guarantor nations, and not the prospects of Greece itself. As a result these instruments currently maintain a rating of AA-.



In a technical sense your right. The issue at hand is if the rest of the EU will guarantee anymore Greek bonds, because in the rest of EU doesn't want to pay Greece's bills. At the end of the day it's the tax payer getting stuck with the bill. I can't blame the rest of europe, why should the German people pay for the Greece's poor fiscal choices.


You just nailed one of the biggest reasons exactly why people in various states in the U.S. want nothing more to do with this fallen republic.

Originally Posted by Mannlicher
America needs to understand that our troops are not 'disposable'. Each represents a family; Fathers, Mothers, Sons, Daughters, Cousins, Uncles, Aunts... Our Citizens are our most valuable treasure; we waste far too many.