The Troika is Stinking of the Same Desperation as the Hank Paulson Treasury

That is to say, things are very serious, they are concerned about an impending collapse in Greece with Ripple effects that would shake all of Europe.

In this scenario, substitute the Troika for Hank Paulson of the Treasury during the Lehman Crisis. Substitute Greece for Lehman and substitute Paulson's hectic rush to get something done with Lehman before it collapses with the Troika's efforts in Greece and what are the similarities? Mistakes and big ones that are potential deal killers.


The mistake is the unaccounted factor that 100% of Bond Holders will need to agree to the new terms and in that little oversight, the 2nd Greek bailout could be dead. Much like Paulson's deal with Barclay's to take over Leman, except for one thing... Paulson never got the approval of Barclay's governmental oversight, which promptly killed the last hope for Lehman.

There are a lot of smart people working on this, to let little details like this that could kill the deal slip between the cracks, shows how desperate they are, how big of a problem this is, and how these two realities are causing mistakes that parallel the collapse of Lehman, only this time it's Greece.