Index.php
From Thikipedia
The banking industry has described its agreement with Greece to cut its debts as "unprecedented".
A group of banks and other investors in Greek government debt have agreed to exchange their debt for new bonds that are worth much less and pay a modest rate of interest.
Including the reduced interest rate, the losses to the banking industry are more than 70%.
For some of Europe's biggest banks, that means heavy losses.
"The losses are going to be substantial, but they are contained and there's a longer-term benefit for the system in having a core group of investors sit down across the table and coming together," said Charles Dallara, managing director of the Institute for International Finance, which negotiated on behalf of the banking industry. Continue reading the main story �Start Quote
In the long and tawdry history of governments borrowing more than they can afford, this represents a remarkably huge, unprecedented write-off�
image of Robert Peston Robert Peston Business editor, BBC News
More from Robert
It is perhaps no great surprise that Greek banks are the most exposed to Greek debt.
According to Barclays Capital, the top two holders of Greek debt are National Bank of Greece, with 13.2bn euros ($17.5bn), and Eurobank EFG, which holds 7.3bn euros ($9.7bn).
Once the bond exchange is completed, those holdings will be worth less than half their current value, and if you include future interest payments, worth 70% less.
Outside Greece, French and German banks hold the most Greek debt. The last bailout?
Many foreign banks have already accepted that their investments in Greece are now worth just a fraction of their original value, irrespective of the latest deal.
In its most recent set of results, France's BNP Paribas, the biggest owner of Greek debt outside Greece, said that it had written down the value of its Greek debt by 75% on its balance sheet.
And according to the Barclays report, Commerzbank is the biggest holder of Greek debt among Germany's banks. Its holdings of government debt have complicated its efforts to raise new finance to boost its balance sheet.
For the average investors, the effect of Tuesday's bailout is limited. Most insurance companies and investment firms have little or no exposure to Greece.
Some hedge funds have built up their holdings in Greek debt, but it is likely to be a relatively small amount, perhaps less than five billion euros.
It is thought some will refuse to sign up to the bailout deal and hope to be repaid in full.
Analysts are now wondering whether the latest deal will be enough. The Greek economy is in recession, making it even more difficult for the nation to pay its debts.
"The debt sustainability analysis is much worse than people were expecting," said Laurent Fransolet, head of fixed-income strategy research at Barclays Capital.
"It's ambitious and we cannot be sure this is the last bailout. Does it buy a bit more time? Yes. But the next one will have to involve the official sector much more."
Contents |
www.abercrombiemagasinsfrs.com skilled and standard.
-- > examiners are measurement player height uniform white shirt,doudoune moncler, black dress,abercrombie france, hair neatly combed into the back of the head, a delicate face,louboutin, simple and generous,moncler.200 beautiful woman one one left, turn right, go straight, arms around the field.
,abercrombie paris.....These simple body show, is the beautiful woman to become airline stewardess first hurdle,air jordan pas cher.Yesterday,abercrombie, China Southern Airlines in the 10 city to recruit attendant game arrived at Chongqing Railway Station.
A total of 1500 strokes (1000 female,, 500 male), only Chongqing has 3000 people entered for the competition,abercrombie, but most of them were ahead of the brush.The fly in the blue sky of the occupation, is still the dream girls,doudoune moncler pas cher.
"Turn left,abercrombie, turn right, walk in a circle around the field"......Yesterday morning 10 point, the examiner shouted loudly to show the action, the girls immediately and do.A the last girl is almost the examiner Carter skillfully made action, skilled and standard.
Her face, always with a confident smile.And some girls, too nervous to brow."This is my sixth game, reaction will be a little faster,abercrombie paris."Walk off the stage,doudoune moncler, candidate Yang Tingyu generous to say the reason she skillfully.
This year she 22 years old,abercrombie france, is the Chongqing Normal University news special senior,abercrombie france, in a group of tall, beautiful girl,abercrombie france, she is not particularly, about 1,abercrombie.65 meters tall,air jordan, skinny,abercrombie, a pair of big eyes.But after a few simple body show, she suddenly from the crowd talent showing itself, has won the praise,abercrombie.
Related articles:
- abercrombie
- also have the industry belie
- to accord with wor
"He told the reporters, her writing was originally appeared in a media, no to the so-called "Chinese teenager writer cup contest" submission, "winning the prize should give me the reward ah, how to spend the money to buy the book!"The sky "jackpot" not only let the children feel confused, also let parents.
50430
In many FHA lending options a great source rate can be standard. A great source rate is usually a number belonging to the mortgage quantity. As an illustration some sort of 1% source with a mortgage quantity of $100k is $1,uggs for cheap, 000,?p=blogs/viewstory/176097,ugg boots. Your big difference together with a great FHA 203k mortgage usually some sort of extra source rate is likewise extra. This quantity can be a single,ugg boots for sale. 5% belonging to the mend or even rehabilitate quantity or even $350. 00 no matter what can be extra,ugg boots. Think of this as charge being a government rate pertaining to creating your escrow levels that can deal with plus pay your assessments when wanted.
just about any coloring cannot disappoint people.
Do analysis with the sort of puppy the leather-based outfit is done by to obtain a good plan associated with the top quality. For instance,ugg boots, if you'd like a new tough leather-based coat,ugg boots cheap,?postId=123739, chances are you'll pick out lambskin leather-based because lamb is definitely stronger in comparison with lambs or perhaps cow leather-based,ugg boots for sale. Twenty college diplomas climate 's best for your comfortable cover, in that case leather-based coat 's your primary alternative. This not simply could preserve away the particular the wind and also wintry, but indicate a person's number. Leather-based coat cannot be not so great, for the particular charcoal leather-based coat. From a word of mouth,ugg boots, just about any coloring cannot disappoint people.
the key is that it works
This price range is do-able,uggs for cheap. You can get an okay bike stand to meet the basic needs of repairing your bicycle,ugg boots for sale. If you are just starting out in bike repairs and don't want to spend too much, or are not sure how much you're going to really be working on your bike, this can be a good price to look at. Do your research and read some reviews to make sure you are getting one that will work for you,ugg boots. You won't get anything fancy,ugg boots, but that's okay, the key is that it works,/topic/141465-ugg-boots-clearance-377-aus-cheaper-2012/! You can also get a bench mount stand from reliable brands for this price.
by exquisite for you to medieval glance
Mom and dad seek out winter weather dress yourself in that may match and also go with his or her little ones? priorities when it comes to coloring, type, style and design and also structure. Because outfitting upward the younger children can be a interesting bonding hobby on most mom and dad specially through the winter weather. A lot of mom and dad, in actual fact,ugg boots for sale, make with this by means of canvassing winter weather dress yourself in, perfect agrees with, perfect " booties " and also winter weather caps around various department shops, department stores,ugg boots outlet, from suppliers takeaway boutiques and also golf clubs and also by means of on the web,?p=blogs/viewstory/84843. A lot of mom and dad add need to be confined by means of common exploring dresses,ugg boots. Many people look for snowsuits which may accomplish particular personality or perhaps mind-set recommended to their little ones? glance, and also enjoy task associated with outfitting his or her little ones slightly, by exquisite for you to medieval glance,ugg boots cheap, so they really would likely be prominent from your sleep sometimes around winter weather. The particular hard climate won't quit mom and dad by picking fashionable still comfortable snowsuits for his or her the younger children therefore below the best information around trying to find fashionable child snowsuits.
have fun
An outdoor playhouse can be quite a lasting,boots, beautiful place for children to play and use their imaginations,ugg boots for sale, socialize, have fun,ugg boots outlet, and revel in having a retreat space of the very own,ugg boots for sale. There are some options when it comes to outdoor playhouses, ranging from purchasing a ready-made or even easily assembled plastic tot-sized structure to following plans as well as doing it yourself. You have the in-between choice of putting together an outdoor playhouse from a kit too. How do you pick the right outdoor playhouse for your family? Here are a few factors to consider that may help you decide.
using the training collar resulted in and also 'popped'
Popular males almost everywhere winced if the frat youngster type of using polo t shirts, using the training collar resulted in and also 'popped', went on store like a direction,ugg boots. Although the upturned training collar will be fine inside few circumstances using polo t shirts, it can be by no means an excellent related to blazers unless of course you might be out-of-doors as well as an authentic cool to guard on your own via,ugg boots,?105835-uggs-733-AUS-cheaper-2012&p=105882#post105882. Perhaps subsequently,ugg boots cheap, you must placed the training collar as well as lapels again lower once you acquire inside,ugg boots outlet.
Christians
Some have accused Dunham's characters of being racist caricatures, sexist, and homophobic,ugg boots for sale. In 2008 a TV commercial for a ringtone featuring Dunham's character Achmed the Dead Terrorist (see Characters below) was banned by the South African Advertising Standards Authority after a complaint was filed by a citizen stating that the ad was offensive to Muslims, and portrayed all Muslims as terrorists. Dunham responded that "Achmed makes it clear in my act that he is not Muslim." However,?22567-cheap-ugg-boots-010-AUS-cheaper-2012&p=22816#post22816, the Advertising Standards Authority noted that the name Ahmed was of Arab origin and was one of the names of Muhammad. Dunham responded, "I've skewered whites, blacks, Hispanics,ugg boots outlet, Christians, Jews,ugg boots, Muslims, gays, straights, rednecks, addicts, the elderly, and my wife. As a standup comic, it is my job to make the majority of people laugh, and I believe that comedy is the last true form of free speech." He further commented, "I'm considering renaming Achmed, 'Bill.'" (Dunham has conceded that he does exhibit particular sensitivity to the "conservative country crowd", or those characterized by "basic Christian values", as they are one of his largest constituencies,uggs for cheap, and part of his upbringing.) The Islamic Human Rights Commission recognized Dunham in 2009 for his "outstanding Islamophobia".
