Got a failing economy? Do what one consultant did — secure 100 iPads to get the Greek debt restructured.

Greece was facing bankruptcy, and the debt needed to be restructured and reduced. It is always a complicated and slow moving process. The iPads helped.

It’s all described in an article by Phillip Elmer-DeWitt in Fortune. A company called Bondholder Communications Group needed a realtime way to connect to the leadership team that was controlling the approach to restructuring the debt. Enter iPads that were sent to those team leaders with a special app designed to display the debt restructuring approaches and share the data among all the stakeholders.

Bob Apfel, who runs Bondholder Communications was quoted as saying “I watched hundreds of millions of bonds being ‘slam dunked’ as these guys were running down the halls, split-second decisions were made that couldn’t have been made without the data platform.”

At the end of the day, $270 billion of Greek debt had been reduced to $130 billion. “It was the largest financial transaction in the history of the world,” Apfel sayd. “And we couldn’t have done it without the iPad.”

How the iPad helped Greece’s debt restructuring originally appeared on TUAW – The Unofficial Apple Weblog on Wed, 23 May 2012 06:30:00 EST. Please see our terms for use of feeds.

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