Greek Debt Deal Still Not Finished
The Greek debt trouble is still not settled. Some private bond holders may not agree to swap their current sovereign holdings for paper worth about 70% less. The absence of a deal could by itself apparently undo all of the…
The Greek debt trouble is still not settled. Some private bond holders may not agree to swap their current sovereign holdings for paper worth about 70% less. The absence of a deal could by itself apparently undo all of the effort by Greece’s neighbors, the EU, and, indirectly, the ECB to fashion a bailout. Seventy-five percent of the private holders have to agree to the new terms. The acceptance rate could still be short of that. It is hard to see what “hold-outs” would gain. If Greece defaults entirely, the value of their paper could go to zero.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
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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.