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Apple's iPad plays crucial role in Greece's debt restructuring

post #1 of 23
Thread Starter 
One-hundred iPads were used to coordinate tens of thousands of bondholders signing off on the restructuring of Greece's debt.

Bob Apfel of Bondholder Communications Group was tasked with getting roughly 100,000 bondholders from around the globe to sign off on a series of complex restructuring transactions. He told Philip Elmer-Dewitt of Apple 2.0 that he decided to do "something different," and bought 100 iPads to ensure the process went as smoothly as possible.

The iPads were outfitted with a custom debt restructuring app and provided to representatives from a number of organizations, including the Greek Finance Ministry, the Hellenic Exchange, the Bank of Greece, and the external banks that managed the deal. The goal, Apfel said, was to create a "platform that could follow the financier," as most of the leadership team spent their time on the road, rather than in an office.

"It was the largest financial transaction in the history of the world," Apfel said, "and we couldn't have done it without the iPad."

The leadership team finalized the deal and it was closed on April 25. In all, it reduced the Greek debt by $130 billion, from $270 billion to $140 billion.



As use of the iPad has grown in the enterprise, the financial services industry in particular has found new ways to adopt Apple's iPad. Data from Good Technology released in April cited the financial industry as one of the most popular business segments for activation of the iPad.
post #2 of 23

Interesting. Yet another validation of the iPad in the enterprise.

 

Unfortunately, the next version of the "Debt Restructuring App" will likely have just one setting: Default.

post #3 of 23

Ironic enough, the guy's name is Apfel!! JAJAJA

 

(PS: just in cases someone didn't get it, Apfel is "Apple" in German)

post #4 of 23
Quote:
Originally Posted by awadulcecity View Post

Ironic enough, the guy's name is Apfel!! 

Where's the irony?

post #5 of 23
Quote:
Originally Posted by DrDoppio View Post

Where's the irony?

Over there, in the box. 

 

Oh, never mind; that's the ambiguity...

post #6 of 23
Quote:
Originally Posted by Napoleon_PhoneApart View Post

Over there, in the box. 

 

Oh, never mind; that's the ambiguity...

You lost me there...

post #7 of 23
Quote:
Originally Posted by KPOM View Post

Interesting. Yet another validation of the iPad in the enterprise.

 

Unfortunately, the next version of the "Debt Restructuring App" will likely have just one setting: Default.

 

It's looking that way, isn't it. This isn't the kind of story that Apple probably wants to figure prominently in. No doubt, when that default happens, a lot of people will blame Apple.

post #8 of 23

Cute story although I wouldn't say it played a 'crucial' role. 

post #9 of 23

"In all, it reduced the Greek debt by $130 billion, from $270 billion to $140 billion."

 

So, this country has settled it's scores on screen by clicking-on a few icons, etc.

 

Hmmm... Beware of geeks bearing gifs!

post #10 of 23
Quote:
Originally Posted by Fotoformat View Post

...

 

Hmmm... Beware of geeks bearing gifs!

Lol, good one!

post #11 of 23
Quote:
Originally Posted by DrDoppio View Post

You lost me there...

Don't worry too much. It seems to happen to you a lot.....
post #12 of 23
Quote:
Originally Posted by anantksundaram View Post

Don't worry too much. It seems to happen to you a lot.....

What do you expect from someone who calls himself Dr. Dopey?
"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
Reply
post #13 of 23
Quote:
Originally Posted by anantksundaram View Post


Don't worry too much. It seems to happen to you a lot.....

 

Quote:
Originally Posted by jragosta View Post


What do you expect from someone who calls himself Dr. Dopey?

 

Get a room bridge, you two...

post #14 of 23

$140bn here and there, pretty soon you're talking about real money,

post #15 of 23

"we couldn't have done it without the iPad"

 

Some of the most productive people I know don't use a computer on a daily basis. They have no iPads. We spend time thinking about how productive we are, how productive we were before - while others are productive. 

 

This is no article at all.

post #16 of 23
Quote:
Originally Posted by BGW View Post

"we couldn't have done it without the iPad"

 

Some of the most productive people I know don't use a computer on a daily basis. They have no iPads. We spend time thinking about how productive we are, how productive we were before - while others are productive. 

 

This is no article at all.

This isn't much of a comment either.  :)

 

You might as well have just quoted Yoda.  

 

“Do or do not... there is no try.”

post #17 of 23
Quote:
Originally Posted by Ronbo View Post

 

It's looking that way, isn't it. This isn't the kind of story that Apple probably wants to figure prominently in. No doubt, when that default happens, a lot of people will blame Apple.

 

They will if they are morons that can't separate out use of a company's products with actual involvement. This isn't like Apple said they would build a plant in Greece or some such. 

 

to be honest this story would have never gotten out if Apple hasn't been the company involved but in truth the story is just as important if they had gone cheap and gotten Kindle Fire's. Because the real story is how tech is changing the world. No more coordinating phone calls, no more reams of paper being used for things that will be shredded in 72 hours anyway and so on. No more kids that weigh 90 pounds hauling around 50 pounds of written in, grimed up, 4 years out of date text books and so on. 

A non tech's thoughts on Apple stuff 

(She's family so I'm a little biased)

Reply

A non tech's thoughts on Apple stuff 

(She's family so I'm a little biased)

Reply
post #18 of 23

"Apple's iPad plays role any other platform could have in Greek debt debacle."

post #19 of 23

"crucial role"??!

LOL

post #20 of 23
Quote:
Originally Posted by igorsova View Post

"crucial role"??!
LOL

It was crucial. Had they used an Android tablet, the deal surely would have fragmented. 1smile.gif
post #21 of 23
"But they're just toys for the wealthy"
"It's just a giant iPod Touch"

"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
Reply

"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
Reply
post #22 of 23

"Bondholders" (or whoever) using iPads to "restructure" (ie. simply extend more junk loans never to be paid back) Greek debt is like chimpanzees using sticks to poke at holes.

 

Europe is falling apart, the UK is degenerating, youth unemployment now exceeds 50%!!! in both Spain and Greece as the number of people out of work in the eurozone as a whole hit a 15-year high of 17.2m*, Greece still hasn't decided who should run the country after months/years of elections and negotiations, the next election which may or may not have conclusive results is sometime in June, their total debt is ~€350 billion and shooting up**, almost 200% Debt-to-GDP, all money with no hope in sight of ever being paid back... But at least we're going to save them with iPads, right?

 

While iPad of course has great potential, the fact that 100 iPads can reduce 150 billion euros of debt has to make you think about our ludicrous financial system.

 

And of course, if your deadbeat friend owes you $300, you telling him, it's okay, I've "restructured" it to only $150 you owe me, is meaningless, because you're never going to get even $50 back from him! Moreover, using your iPad to iMessage your deadbeat friend that you've "reduced" his debt to $150 doesn't make the situation any better, does it?

 

*http://www.telegraph.co.uk/finance/financialcrisis/9181776/Youth-unemployment-passes-50pc-in-Spain-and-Greece.html

 

**http://www.nationaldebtclocks.com/greece.htm


Edited by nvidia2008 - 5/23/12 at 3:32am
post #23 of 23

Hmmm, maybe the world is going bankrupt because we keep buying things we don't have the money for?  Like...eh...iPads?  

I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
Reply
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