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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.
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    In the long and tawdry history of governments borrowing more than they can afford, this represents a remarkably huge, unprecedented write-off�

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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."

== Let Me Explain, Profitable Deals To Set Up ==


In fact モンクレール Lucie, it's not hard to find a business with a superior product that has the potential to crush its competitors and dominate its niche - if only someone could do it justice with some effective marketing and sufficient exposure (a perfect recipe for a JV...)
(Nothing is worse than getting stuck with a "dud" product - or a dead "list".)
Now, you're going to want to look for ways to earn as much as you possibly can from each deal that you put together - obviously. What this entails is finding products with high-ticket price-points, or items of a "recurring" nature. If you can find both, then that's even better ...
For example, it's almost always easier to sell 3 items at $1000 each then it is to sell 1000 items for $3.00 each.
Let me explain...
Finding a high-ticket item to work with will significantly lower the required sales volume required to generate some substantial commissions for yourself as a broker. 
Let's say that you arrange a deal with a product owner where you receive 10% of all gross sales for a product that costs $1000.00. That means that for however many products sold through a JV deal ダウン モンクレール, you will receive $100. 
Note: Find high-ticket products that have a very high profit margin.
For the sake of simplicity, let's pretend that the product in this case is a travel package. 
Now Learn How To Choose Tugs That Fit Your Business, if you were to set up a JV with a relevent "travel" newsletter that would effectively reach your target market - and if they had 100,000 paying subscribers - you could potentially stand to make alot of money...
If even one percent if the newsletter's readership (1,000 people) decided to buy a travel package for $1000 monclerダウン, you will have just earned $100 ダウン モンクレール,000 for simply arranging the deal.
Not too bad, is it?
Now, perhaps even better than a high-ticket product is one that could potentially provide an ongoing, lifetime income as compensation for you brokering the deal. If done right モンクレール ダウン, this type of arrangement will turn a "one-time deal" into lifelong profits...
For example:
� Doing JV's with merchant services that enable their clients to accept credit cards - and negotiating a percentage of the "residual" flat rate per client transaction
� Doing JV's with subscription-based services and taking a percentage of all subscriptions indefinitely
� Doing JV's involving financial products and negotiating a cut of the firm's revenues モンクレール Branson.
� Doing JV's involving insurance products and negotiating a cut of monthly premiums
As you can clearly see, the amount of money to be made as a JV Broker is enormous - and it can last for the rest of your life if you set it up to do so...
Approaching people as a broker can be intimidating at first - because it might "feel" like you have nothing to offer, which obviously isn't the case. 
However, while there are several ways to approach a business to work with, I'm going to share with you the single most powerful, yet overlooked strategy for putting together JV's with "cold" prospects (that have never done a JV before) that has practically always worked, every time:
Build relationships with your prospects.
Really. This works like gangbusters. This might sound "cliche", but building a solid relationship with anyone will absolutely skyrocket your chances of doing business with them at any given time, short-term or long-term.
And this is easier to do than you might think. In fact, I would recommend (in some cases) that you start out by helping out a company for free. Show them how to test and track their ads. Help them improve their sales copy and marketing material. Tell them about "backend" strategies and teach them about how to use email marketing effectively and so on. Prove yourself first.
How?
Tell them that you're a marketing consultant, and you're looking to build up a strong portfolio by helping other businesses succeed - and that you're only willing to work for a percentage of an increase in sales, or free to begin with (until you pitch the JV). 
Once they see the value and validity of your advice, they'll trust your decisions. At this point, they'd probably welcome your JV proposal with open arms.
This process doesn't have to take a long time. It might not even have to take more than a few hours. The bottom line is that if you see that there is some real, proven potential in this company's product or client base, then this "proving time" will be more than worth it for you in the end モンクレール Branson...
Now, once you've solidified yourself as an ally with this company モンクレール ダウン, you can then basically repeat the process with their potential partners モンクレール Lucie, and so on.
Note: This strategy isn't necessarily applicable to every situation - but the principle behind it is. Build trust by being truly helpful, and clearly explain that you will only earn a percentage of the sales that you generate directly.