Posts
J.Ewing, L.Thomas
Another warning shot across the Eurozone's bow over Greek debt...from Standard and Poors.
The ratings agency states that the French banks proposal to give Athens more time to repay loans... is still a default.
S/P says under it...creditors will still have to wait longer to be repaid...and Greek bonds values would be reduced.
“Ratings agencies are saying, ‘We don’t think it’s voluntary; it’s just a way to hide a default’ — which it is,” said economist Daniel Gros.
A government source says :“Now the official sector will need to find another 30 billion”... the 30 bn euros/$43.6 bn... that leaders wanted from the private sector.
