KK-I won't worry about the story. Part of the Greek negotiation will be that the 70% haircut won't be an credit d even

Hisah-the Greece negotiations have taken so long because the EU wants to use it as a template for having EU countries partially default without it being called a credit event. Yani forcing lenders to take losses capitalist style.

Hisah-a lot of those bondholders that hold Greece also foolishly hold other PIGS. If they are unwilling to negotiate and Greece falls under the bus, the value of their other holdings will head towards 0. Its better to book 30% than 0. Ama?

Hisah- I am no expert on what is or is not a credit event (ISDA is). However, pls note that voluntary debt restructuring agreements rarely qualify to be categorized as a credit event. In anycase, I believe the cds sellers are also in the talks.
As a generic point, capitalism will never work if people are not allowed to fail

warren buffet is way cool than most of you guys think !

I had posted this cold fusion energy break thru some time back. This thing is causing discomfy to the black gold cartel. I hope Rossi doesn't end up like Nikola Tesla.

http://www.youtube.com/watch?v=p1W3Vm1HUO8 - Most info under the description tab of the video. Interesting rinks there.

Meanwhile 2 largest Greek union to strike tomorrow (against austerity) - members are almost half of the nation's work force.

Also the nobel peace price jury is under investigations.

No rinks for those two updates (I'm feeling lazy), just google to find them.

NEW YORK (CNNMoney) -- A growing number of states are seeking shiny new currencies made of silver and gold.

Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option. Just three years ago, only three states had similar proposals in place.

Read more:

http://money.cnn.com/201...3/pf/states_currencies/

KK- I know what a credit event is, but the criteria for defining something as a credit event is very complex. Even if your house burnt down, please note that an insurer only pays out when they are 100% sure that it was an event that fits their criteria for paying out.
Greece will fall over because its society might balk at the required changes.

President Jakaya Kikwete has said Tanzania’s government has experienced serious financial difficulties in the recent past, revealing it was overwhelmed by debts.
http://www.nation.co.ke/...2/-/w6ixe9/-/index.html