Tag Archives: greece

A (Greek) Default By Any Other Name

Back in October I wrote about the impact of an impeding Greek default on the CDS market. I concluded that in the shadow of Dodd-Frank, the decision on whether the Greek bailout triggered a CS payout was a minimal consequence. With ISDA’s announcement that the European Central Bank’s fix to the Greek bond crisis will… Read More »

Greece Won’t Kill CDS, Dodd-Frank Will

(also posted on TabbFORUM.com) Greece is defaulting on its loans. OK, technically, that’s not true. The official version is that Greece’s creditors have agreed to a “voluntary” haircut of 50 percent on the outstanding debt. The word voluntary is key. Because the haircut is technically voluntary, a credit event will not be triggered, which means… Read More »