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Tuesday, January 24, 2012

Advice To Greek Politicians - Read The Small Print!

ekathimerini.com reports that a Greek cabinet minister didn't read the loan agreement with the EU in 2010.

"Development Minister Michalis Chrysochoidis, who has declared he intends to challenge for the PASOK leadership, said on Tuesday that when he was part of the Cabinet in 2010 he did not read the terms of Greece's loan agreement with the European Union and the International Monetary Fund."

Does it really matter if you don't read these agreements?

Well, the bondholders seem to think so.

Reuters reports:

"Hedge funds are combing through the small print of Greece's planned rescue deal with private creditors, readying a wave of potential litigation to squeeze a better payout from the country."

Well then, you sow what you reap!

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