ECB May Join Greek Rescue
The largest holder of Greek bonds is the ECB, so, it has the most to lose if the nation goes into default. Despite the ECB’s position that it can aid the regions banks but not nations directly, its fear of…
The largest holder of Greek bonds is the ECB, so, it has the most to lose if the nation goes into default. Despite the ECB’s position that it can aid the regions banks but not nations directly, its fear of financial harm may be more important
It is not clear in what form the ECB aid might come. It may agree to buy some bonds from beleaguered private investors who face a 70% drop in their holdings. This would make it more likely that these private investors will join the rescue, which, if it does not happen, could drive Greece into default next month
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
