How 100 iPads saved Greece $140 billion and how iPad played a key role.

This is an article for but was worth a mention on the blog. There is a link to the original article below.

Apple’s tablet plays a key role in the largest debt restructuring in history

I got a London call last week from a Bob Apfel, a Brooklyn neighbor (and fellow Oberlin College graduate).

“Two weeks ago,” he began. “I completed the debt restructuring of Greece.”

It was pretty bold statement, but not entirely out of character. After all, Apfel runs a company called Bondholder Communications Group that does this kind of thing.

But that wasn’t the real reason for his call. He wanted to talk about the computer network his team had created to get the job done.

Greece, as you may recall, was facing bankruptcy this spring, unable to make good on debts worth, on paper, more than $270 billion. In a series of complex restructuring transactions, the country’s Finance Ministry had offered to settle for a fraction of the bonds’ paper value.

But getting roughly 100,000 bondholders scattered around the globe — from Russia to South Africa to Kazakhstan — to sign off on the deal on a tight deadline was going to be a logistical nightmare.

“I wanted to do something different,” Apfel says. “So I bought 100 iPads.”

The Apple (AAPL) tablets, equipped with a custom-made debt-restructuring app, were handed out to the leadership team, including representatives from the Finance Ministry, the Hellenic Exchange (the Greek equivalent of the NYSE), the Bank of Greece (their version of the Federal Reserve) and the three external banks that managed the deal, Deutsche Bank, HSBC and Lazard.

The idea was to give the participants a rich set of analytic tools and real-time, secure connections to both the global clearing systems and the back offices of banks around the world.

“During the lead-up to the launch,” says Apfel, “members of the financial leadership team were spending over half their time on the road, meeting with investors or financial overseers from the EU and other parts of the troika. There was a palpable need to create a financial decision-makers’ platform that could follow the financier – not vice versa.”

Toward the end, things got pretty exciting.

“I watched hundreds of millions of bonds being ‘slam dunked’ as these guys were running down the halls,” says Apfel. “Split-second decisions were made that couldn’t have been made without the data platform.”

When last deal finally closed on April 25, $270 billion of Greek debt had been reduced to $130 billion.

“It was the largest financial transaction in the history of the world,” says Apfel. “And we couldn’t have done it without the iPad.”

Check the complete news on



  1. online payday loans

    I read this article fully about the difference of most recent and
    preceding technologies, it’s awesome article.

  2. payday advances

    Greetings! Very helpful advice in this particular post!

    It is the little changes that make the greatest changes.
    Many thanks for sharing!

  3. Hal Abud

    I just want to say I am beginner to blogging and site-building and absolutely loved this web site. Very likely I’m likely to bookmark your site . You definitely have beneficial well written articles. Kudos for sharing with us your web site.

  4. loans quick

    Excellent blog yоu have here.. It’s hard to find quality writing like yours nowadays. I really appreciate people like you! Take care!!

  5. marlboro lights carton prices

    Keep on working, great job!

  6. Sherita

    Hello! I could have sworn I’ve been to this website before but after browsing through some of the articles I realized it’s new to me.
    Anyhow, I’m certainly pleased I came across it and I’ll be bookmarking it and
    checking back frequently!

  7. kool cigarettes

    It’s in reality a nice and useful piece of info. I am satisfied that you just shared this helpful info with us. Please stay us up to date like this. Thanks for sharing.

  8. lucky strike non Filter cigarettes Online

    Hello there! I just would like to give you a big thumbs up for the
    great info you’ve got right here on this post. I’ll be coming
    back to your web site for more soon.

  9. Dieter

    Its like you read my mind! You seem to know a lot about this, like you wrote the book in it
    or something. I think that you can do with a few pics to drive
    the message home a little bit, but instead of that, this is wonderful blog.
    An excellent read. I’ll certainly be back.

  10. Lorie

    Thanks for every other informative website. Where else may I
    am getting that kind of info written in such an ideal manner?
    I have a project that I’m just now working on, and I’ve been at the
    glance out for such information.

  11. Roman

    We’re a group of volunteers and starting a new scheme in our community. Your web site provided us with valuable information to work on. You have done an impressive job and our whole community will be thankful to you.


Leave a Comment

Your email address will not be published. Required fields are marked *