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More on the Greek deal: Though confident a creditor deal with Greece will get done, Marathon's...

More on the Greek deal: Though confident a creditor deal with Greece will get done, Marathon's Bruce Richards expects the country will not make a €14.5B scheduled bond repayment on March 20. The new bonds will pay interest of 4-5% with 20-30 year maturity - the net present value of which amounts to about €0.32 on the euro, Richards says.
Comments (7)
  • 68% sounds like a good starting point. At some later stage the investors will have to recognize as a loss the other 32% but we can worry about that later. Of course, Greece will never pay a penny back.
    17 Jan 2012, 05:19 PM Reply Like
  • This is insane!
    Who in their right mind would have anything to do with Greece and its debt and for the crazy duration of 20/30 years?
    Greece wont even be around in 20/30 years, let alone this fiasco called the E.U.!
    Jerry
    17 Jan 2012, 06:00 PM Reply Like
  • Jerry,
    Greece is around for thousands of years! is not going to be around in the next 20/30 years? you don't know what you talking about!
    17 Jan 2012, 06:29 PM Reply Like
  • Jerry 'ol sport, suggest you read Simon Montefiore's new book "Jerusalem" for a good look at Mediterranean history. I'm not into religion at all but this book is stunning in it's revelations about the various backgrounds re todays nations including Greece. Dont worry about Greece, they will be here next year but just a ton less wealthy.
    17 Jan 2012, 06:57 PM Reply Like
  • Why should Greece even bother to ever pay them back when it keeps getting incentives for not doing so?
    17 Jan 2012, 08:01 PM Reply Like
  • LOL at anyone wanting to hold Greek debt for 20-30 years. I wouldn't hold it for one year. I'd rather see them default and trigger CDS to get 100% back.
    17 Jan 2012, 08:10 PM Reply Like
  • Got to agree that even a 68% loss is more than Greek can afford. Probably needs to be almost 100% writedown.
    17 Jan 2012, 10:18 PM Reply Like
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