Hedge Funds

Planet Money
9:50 am
Thu January 26, 2012

No, Hedge Funds Can't Foreclose On The Acropolis

DIMITAR DILKOFF AFP/Getty Images

Originally published on Mon May 7, 2012 12:12 pm

Greece is broke. But there's no blueprint for a country to declare bankruptcy, so Greece's creditors are sort of making things up as they go along.

"You're taking some sort of loss," Hans Humes of Greylock Capital Management told me. "But it's like, how much of a loss do you take? There's this thing called sovereign immunity. You can't go in and take the Acropolis."

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