100 iPads Lend a Hand in the Restructuring of Greece’s Debt
AppleInsider reports today on how the iPad has played a vital part in the restructuring of Greece’s debt. According to Philip Elmer-Dewitt on Apple 2.0, Bob Apfel of Bondholder Communications Group, the man whose job it is to get 100,000 bondholders around the world to sign off on various restructuring transactions, bought 100 iPads to help him in his task. Apfel installed a custom debt-restructuring app on the iPads, before handing them over to interested parties from several different organizations, including the Greek Finance Ministry, the Hellenic Exchange, and the Bank of Greece. Apfel said that the reason for choosing to use iPads to help move the process along was because he needed a “platform that could follow the financier,” because most of the team involved were out and about and on the road much more than they were in the office.
The deal was finalized on April 25, reducing the Greek debt by $130 billion.
“It was the largest financial transaction in the history of the world,” Apfel told Elmer-Dewitt, “and we couldn’t have done it without the iPad.”
Apple's iPad plays crucial role in Greece's debt restructuring
How 100 iPads saved Greece $140 billion - Apple 2.0 - Fortune Tech