This Apple Product Saved Greece $140 Billion
Sony might think that the PlayStation 3 "only does everything," but it was an Apple product that saved Greece well over $100 billion.
An iPad, to be exact.
How did the world's leading tablet help the struggling nation shave $140 billion off its $270 billion debt? CNNMoney reports (via AppleInsider) that Bob Apfel, the man in charge of Bondholder Communications Group, built a computer network to help Greece in its time of need. And he did it with the aid of 100 iPads.
In short, Apfel was tasked with getting somewhere around 100,000 bondholders (all of which were spread across the world) to sign off on a restructuring deal that would bring the debt down to $130 billion. In addition to the challenge of getting so many bondholders to sign off, Apfel also had to deal with a very tight deadline.
This inspired him to "do something different," as he told CNNMoney, and purchase 100 iPads. Each of the Apple-made (NASDAQ: AAPL) devices came equipped with a custom debt-restructuring app. The tablets were given to representatives from the Finance Ministry and the Hellenic Exchange (which CNNMoney says is the equivalent of the New York Stock Exchange), as well as Lazard (NYSE: LAZ), Deutsche Bank (NYSE: DB), and HSBC (NYSE: HBC).
CNNMoney said that Apfel hoped this would give the aforementioned iPad recipients 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."
Ultimately, it worked. Apfel said he owes it all to the iPad.
"It was the largest financial transaction in the history of the world," Apfel told CNNMoney. "And we couldn't have done it without the iPad."
Now there's an idea for an Apple ad that could dwarf the Siri commercials starring Zooey Deschanel and Samuel L. Jackson.
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