CDS Archives - Keep Talking Greece

Trial: Brother of Papandreou vs Leader of Independent Greeks over CDS alleged trading

January 24, 2013 Politics 5

An interesting trial began Thursday morning at First Instance Cour tin Athens. Defendants are the brother of former prime minister George Papandreou, Andreas (nickname Andrikos) and leader of Independent Greeks party, Panos Kammenos. Papandreou took Kammenos to court when the latter publicly accused him, that he was involved in transactions involving credit default swaps …

ISDA: Greek PSI-CACs “Credit Event”; CDS Payments Triggered

March 9, 2012 Economy 1

Yeap. The activation of the Collective Action Clauses” (CACs) consist a “credit event”, said the International Swaps and Derivatives Association (ISDA) on Friday. Now the CDS will have to be paid out and all those who bet on Greece’s bankruptcy will make some nice profit. The CDS or Credit Default Swap is a …

Greek PSI: The CACs, the CDS and the “Credit Event”

March 9, 2012 Economy 3

The activation of the Collective Action Clauses (CACs) seems inevitable. State broadcaster NET TV (12 pm) cited a Greek government official saying that the CACs’ activation is sure at 99.5%, because without the CACs, Greece would need 20 billion euro more [on debt restructuring], something which is impossible. Greece will force unwilling …

PSI Participation Rate 85.8%, with CAC Activation 95.7%

March 9, 2012 Economy 4

The Greek Bond Swap (PSI) completed with a voluntary participation of 85.8%, said a statement issued by the Greek Finance Ministry on Friday morning. Holders of 172 billion euros worth of bonds in total have agreed to the Greek bond exchange offer. The statement said further that 69% of non-Greek bondholders participated …

Greek PSI: Venizelos Warns That Greece May Activate the CACs

March 5, 2012 Economy 1

Finance Minister Evangelos Venizelos warned that Greece may activate the CACs (collective action clauses) in case private creditors won’t participate in the bond swap, essential precondition for the second bailout for the debt-ridden country. “The deal is the best they would get” Venizelos told Reuters and warned that Greece would not hesitate …

Greek CDS: ISDA “Greece Has Not Defaulted On Its Debt”

March 1, 2012 Economy Comments Off on Greek CDS: ISDA “Greece Has Not Defaulted On Its Debt”

THE CDS will not be activated, the PSI does not mean a ‘credit event’. The latest deal to cut Greece’s debt did not constitute a default, an official trading body has ruled. The International Swaps and Derivatives Association said that new Greek legislation forcing all bondholders to accept losses and …

Papandreou Gives Up PASOK, Attacks Media Boss and Vested Interests

January 4, 2012 Politics Comments Off on Papandreou Gives Up PASOK, Attacks Media Boss and Vested Interests

Greece’s former prime Minister George Papandreou decided to stay at socialist PASOK leadership until he …goes. During a meeting of socialist Party PASOK, the ex PM told his companions in socialism that he will step down s party leader and will no seek to be re-elected. However that he will remain …

The Never Ending Plight of Greek Debt Drives CDS & Spreads High

July 7, 2011 Economy 2

ECB President Jean Claude Trichet made on Thursday a clear point on Greek Debt and the additional bailout. “ECB’s position does not change. Participation of private sector is voluntary. We don’t want a ‘selective default”. Trichet was speaking during a press conference and gave this answer when he was asked …

Tag Archives: CDS