Hoera...Greece has been saved...NOOOOOOOT !!!
To be exact, 85,8% of the private companies have agreed on taking a haircut of 73%, so they all take a loss of 73% on Greek bonds...however: the new bonds will be valued on the open market against 20% of their nominal value, so I invite you all to make this exercise with me: new bonds only valued at 27% after the haircut against 20%, this makes a real value of 20% multiplied by 27% and this gives a real intrinsic value of 5,4% !!!!!!!!!!!!!!!!!!
So, just explain to me the difference between a default (loss of 100% value) and the current situation (loss of 94,6% value) ???!!! Yes, exactly, ladies and getleman, Greece has not been saved at all, in fact Greece has defaulted and once again, this has been covered up and wrapped into a very nice and shiny box with a beutifull colored ribbon around it !!!
GO4IT6
