âÂÂManagingâ Greek Debts: Catastrophe Masquerading asâÂÂRescueâÂÂ

Abstract

out first, they paid dearly for this in the end. Adding insult to injury the forced haircut is officially “voluntary” even though CACs were imposed and official money aggravating the crisis is now preferred. This is all the more unjust as regulators and governments pushed private investors into euro-member-country bonds. To use Soros’ words in the FT, banks “obliged to hold riskless assets to meet their liquidity requirements were induced to load up on the sovereign debt of the weaker countries to earn a few extra basis points”. A capital weight of zero pursuant to Basle I for “OECD-countries”, modified to countries with ratings from AAA to AAby Basel IIthe chairman of the : IASB is said to have gone so far as to call this the “biggest accounting scam in history” or the EU-exemption from the large exposure regime for highly rated sovereigns from the 25% of equity limit have all induced bona fide private creditors to invest in now dubious bonds of euromembers. Now they are told by the very same regulators that these zero risk investments were high risk exposure after all. Minds more critical than I might think of a con trick. Raffer, J Stock Forex Trad 2012, 1:1 http://dx.doi.org/10.4172/2168-9458.1000e104 Stock & Forex Trading