Hedge funds have made large profits from Greek debt and providing insurance to overexposed European banks, it emerged on Sunday.
France signalled that private banks were likely to help in any rescue plan for Athens.
The hedge funds have been successful as traders anticipated that over-exposed European banks would drive a wave of selling against Greece, industry insiders told the Financial Times.
“There are a group of funds, perhaps three or four, that have played this as a huge sovereign basis trade, and made a lot,” said a strategist at one of London’s biggest hedge funds.
But as we know the wonder of the financiers is they can make money from a crisis, thus the Greeks will be safe knowing they will be ok as the hedge funds will use these profits to ensure human welfare…Oh no wait, the other thing, fuck the people over completely so they can buy themselves a third yacht. I knew it was one of the two!