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> There is very little Greek debt left in private hands 34 billion, or 12%, seems to be private: http://graphics.wsj.com/greece-debt-timeline/ http://graphics.
by sampo 11y ago
> There is very little Greek debt left in private hands
34 billion, or 12%, seems to be private:
http://graphics.wsj.com/greece-debt-timeline/ http://graphics.wsj.com/greece-debt-timeline/
- fredkbloggs 11y agoI consider that very little. For comparison, Argentina defaulted on over twice that amount in 2002 (see https://en.wikipedia.org/wiki/Argentine_debt_restructuring https://en.wikipedia.org/wiki/Argentine_debt_restructuring). It also seems fairly likely at this point that many of the remaining private holders are non-banks that purchased the debt at a considerable discount to par, but that's speculation on my part. It seems safe to say that the impact of the Greek default, at least as far as direct financial/economic matters are concerned, is going to be very limited. As far as the private sector is concerned, the damage has already been done.
- sampo 11y ago> Argentina defaulted on over twice that amount Argentina has 4 times larger population, though.