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National Bank of Greece S.A. Message Board

  • ar4087243 ar4087243 May 20, 2011 9:35 AM Flag

    Unbelievable ignorance

    It is unbelievable that a crowd made up of European Finance Ministers led by Germany would try to ignore the elementary workings of the global bond markets! But they did it and it took an ECB Director to threaten them with not accepting Greek bonds as collateral if a credit event is produced by "soft" reestructuring,(Need to spit out the words restructuring, haircuts etc. Those are events of default!!) then they backed off. This is sad is the second time. The first was with Wolgang Schauble German Finance Minister costing the Spanish billions now this. Its pathetic. The World and theIMF would be better served if a non european chief was selected. It would be a lesson they will never forget.

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