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

Posted:
in iPad edited January 2014
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.
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Comments

  • Reply 1 of 22
    kpomkpom Posts: 653member


    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.

  • Reply 2 of 22


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


     


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

  • Reply 3 of 22
    drdoppiodrdoppio Posts: 1,132member

    Quote:

    Originally Posted by awadulcecity View Post


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



    Where's the irony?

  • Reply 4 of 22

    Quote:

    Originally Posted by DrDoppio View Post


    Where's the irony?



    Over there, in the box. 


     


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

  • Reply 5 of 22
    drdoppiodrdoppio Posts: 1,132member

    Quote:

    Originally Posted by Napoleon_PhoneApart View Post


    Over there, in the box. 


     


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



    You lost me there...

  • Reply 6 of 22
    ronboronbo Posts: 669member

    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.

  • Reply 7 of 22
    akf2000akf2000 Posts: 223member


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

  • Reply 8 of 22
    fotoformatfotoformat Posts: 300member


    "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!

  • Reply 9 of 22
    drdoppiodrdoppio Posts: 1,132member

    Quote:

    Originally Posted by Fotoformat View Post


    ...


     


    Hmmm... Beware of geeks bearing gifs!



    Lol, good one!

  • Reply 10 of 22
    anantksundaramanantksundaram Posts: 20,223member
    drdoppio wrote: »
    You lost me there...

    Don't worry too much. It seems to happen to you a lot.....
  • Reply 11 of 22
    jragostajragosta Posts: 10,473member
    Don't worry too much. It seems to happen to you a lot.....

    What do you expect from someone who calls himself Dr. Dopey?
  • Reply 12 of 22
    drdoppiodrdoppio Posts: 1,132member

    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...

  • Reply 13 of 22
    akf2000akf2000 Posts: 223member


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

  • Reply 14 of 22
    bgwbgw Posts: 3member


    "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.

  • Reply 15 of 22
    gazoobeegazoobee Posts: 3,754member

    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.”

  • Reply 16 of 22
    charlitunacharlituna Posts: 7,217member

    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. 

  • Reply 17 of 22
    jukesjukes Posts: 213member


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

  • Reply 18 of 22
    igorsovaigorsova Posts: 24member


    "crucial role"??!


    LOL

  • Reply 19 of 22
    sflocalsflocal Posts: 5,727member
    igorsova wrote: »
    "crucial role"??!
    LOL

    It was crucial. Had they used an Android tablet, the deal surely would have fragmented. :)
  • Reply 20 of 22
    "But they're just toys for the wealthy"
    "It's just a giant iPod Touch"
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