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I will be on BNN at 1240 ET and this is one of the subjects we’ll be discussing.
"The larger the haircut that bondholders accept, the better the outlook for the Greek sovereign from a credit quality perspective after the default," said Tony Stringer, a country debt analyst with Fitch.
"That is because the debt burden would be lifted and consequently the need for austerity would be less," he told Reuters.
If you were Greece and you heard this, what would you do?
(Hat tip Cardiff Garcia)
Source: Deeper bondholder loss could help Greek rating -Fitch – Reuters
About Edward Harrison
Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.
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