Monthly Archives: July 2012

Would an OSI make sense?

I am reading that an OSI (Official Sector Initiative) may be in the workings. Amounts between 70-100 BEUR. Would it make sense? Hardly. As I have argued in this blog ad nauseum, a debt forgiveness (“haircut”) of sovereign debt after … Continue reading

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Demagogues and others…

I generally recommend reading all articles by Nick Malkoutzis but this one I recommend particularly, this time not so much for the article itself but, instead, for the comments made to it. A highly emotional debate developed simply because a … Continue reading

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Seeing the erred ways of my thinking… (6)

I had made the big mistake to think that EU-authorities would be aware of the distinction between sovereign debt risk and country risk. Sovereign debt of Greece represents the obligations of the Greek state; no more and no less. But … Continue reading

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Seeing the erred ways of my thinking… (5)

It pains a bit to think of that now but — I thought, until he retracted the referendum, that Mr. George Papandreou was the best Prime Minister which Greece could have in these difficult times. Why could I err so … Continue reading

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Greece’s ruling class

Much has been said about the so-called “help for Greece” in the 3-digit BEUR figures. Personally and from a financial standpoint, I take a rather sarcastic view: one has used Greece’s balance sheet (and tax payers’ money) to bail out … Continue reading

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Seeing the erred ways of my thinking… (4)

During my career in the corporate world, one thing was a given: when a subsidiary, branch or whatever of your organization was in trouble, you went there personally to form a picture for yourself on the spot. I would have … Continue reading

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Are the Euro’s obituaries premature?

One has to understand that the collapse of the Euro is not something which can come about automatically. At least not as long as there is a Troika and an ECB. Unfortunately, there is not only one variable to consider … Continue reading

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