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Greece's solvency is being called into question, raising the stakes in its battle to avoid default.
Derivatives body the International Swaps and Derivatives Association (ISDA), has been asked to determine if a Greek sovereign credit event has occurred.
The identities of the people or organisations behind the query is unknown but they are believed to be 'market participants'.
But the moves do little to inspire confidence over Greece and a Government minister has told Sky News the second financial bailout for his country, worth an additional 130bn euros (£110bn) is not sufficient.
Originally posted by JakiusFogg
The article states that if the investigators find that a "credit event has happened' it WILL trigger payout on credit default swaps. This means TPTB will get paid.
The Insurance brokers must be wetting themselves!!! a country like Greece going down will take surely the insurance company with them, but who. and who stands to make money from this. that is what we need to find out.
Can you say invested interest!???edit on 28/2/2012 by JakiusFogg because: (no reason given)