Seeking Alpha

Greece's bond buyback appears to have been successful, with local and foreign bondholders...

Greece's bond buyback appears to have been successful, with local and foreign bondholders reportedly offering to sell the government about €30B worth of debt, or almost half the amount owed to private creditors. Greece is spending up to €10B on the plan, so its debt burden will fall €20B. The scheme is crucial for the government to receive a long-delayed bailout tranche.
Comments (9)
  • Now if we can just have Greece issue bonds and buy them back 5 times or so, their debt level will be beautiful... Think I could work for the ECB?
    9 Dec 2012, 12:10 PM Reply Like
  • WOW! Sounds like things are fixed forever! And by forever I mean about 4 or 5 days.
    9 Dec 2012, 01:00 PM Reply Like
  • Now all that's needed is for Greece to buyback multi-billions from the IMF, ECB, and EFSF at 10-20% on the dollar as well
    9 Dec 2012, 02:03 PM Reply Like
  • And, while the perpetual pessimists have been waiting for the world to end because of Greece (or Spain or fill in the blank), and saying, "well, if it's not this month, it'll be next month, or the next month, or ..." ... what's happened to markets?


    This is the danger of being "conditioned" from one calamity (subprime, 2008, etc.) that all other endeavors are going to result in a succession of calamities, all continuing in short order.
    9 Dec 2012, 02:17 PM Reply Like
  • No is called kicking the can down the road. Once burned. Twice shy. And it doesn't matter in a situation the size of Greece, but what happens when it is Spain, or Ireland, or, well...eventually, the US?
    Even at 20 or 30 cents on the dollar, there is not enough money in existence to pull a stunt like this.


    At that point i guess we just give it the old 'mea culpa', wipe the slate clean, and soldier on like nothing ever happened.
    9 Dec 2012, 02:55 PM Reply Like
  • Ted:


    "A cat that sits on a hot stove will never sit on a hot stove again. He won't sit on a cold one, either."


    -- Mark Twain
    9 Dec 2012, 03:09 PM Reply Like
  • Scheme?
    9 Dec 2012, 06:50 PM Reply Like
  • The end of this financial crisis begins when the PIIGS nations have a growing private sector. Greece is beginning and they are making themselves more business attractive.


    Take a look on what is going on inside Greece.
    Goldman Sachs: Greek Economy Started to Adjust in a Substantial Way.


    Here is a business list of what have happened in Greece.
    9 Dec 2012, 02:57 PM Reply Like
  • what is funny is... Greece may or may not accept offers. Greece extended the buyback because the prices offered were not as favorable as expected.
    10 Dec 2012, 05:32 AM Reply Like
DJIA (DIA) S&P 500 (SPY)