Tuesday, February 28, 2012

ISDA to decide on Greece Thursday: "To default or not to default?"

Breaking News March 9, 2012 2:50 PM EST: ISDA declares that a "credit event " has taken place in Greece leading to an official default!


The International Swaps and Derivatives Association (ISDA) will decide on Thursday whether a "credit event" has taken place in Greece!

And thus potentially triggering credit default swaps (CDS)!

This is the news release:

ISDA Determinations Committee Accepts Question 
Related to a Potential Hellenic Republic Credit Event

LONDON, February 28, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA), as secretary to the Determinations Committees (the DCs), today announced that a question relating to a potential credit event with respect to the Hellenic Republic has been submitted to, and subsequently accepted for consideration by, the EMEA Determinations Committee.

In accordance with the Determinations Committee Rules, a meeting will be held at 11AM GMT on Thursday, March 1 to determine whether a credit event has occurred.


Up next will be a replay of the TPC article from February 1, 2012, "A Greece bond haircut definitely won't look like this!"...,


...giving an excellent description of the players, the decision by the ISDA Thursday along with potential ramifications provided in an interview with Jim Sinclair.



Loyal TPC sponsors: Great discount wine, printing and Discover!
Virgin Wine Club   Huge Sale at PsPrint.com!5% Cashback 120x60

No comments :

Post a Comment

;