You are here: Political Economy » Fitch: larger bondholder haircut equals better Greek rating
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.
No related posts.
Like us on Facebook
Follow Edward on Twitter
- Asset allocation in a period of wealth mean reversion
- The mess in Portugal is negative for debt sustainability
- Jensen: How long bonds could actually outperform equities
- Profit mean reversion and recession
- Credit Writedowns is ending paid subscriptions for now
- If we don’t understand both sides of China’s balance sheet, we understand neither
- Do markets determine the value of the RMB?
- China’s stock markets and revisiting 2011 predictions
- The Greece debt bailout negotiations are really about France, not Greece
- Did lending by foreign banks really cause the Greek debt crisis?
- The coming Greek bank nationalization, bail-in and privatization
- Variable geometry bites back: Schäuble’s motives
- The new European Union
- More on Greek Tax Anticipation Note IOUs
- A Return to Fundamentals?
- Greek default
- The Euro is a failure
- Some thoughts on the coming defaults of Greece
- Greek default and Grexit now increasing in probability
- Morality in the Greek Crisis
-  Schiff on the US economy and Bruce on the Fed
-  Brynjolfsson on Bill Gross and markets, Roberts on refugees
- Paul Craig Roberts on the US economy and global refugee crisis
-  New government in Argentina; ECB and Fed poised
-  Rickards: US currency hegemony will pass slowly, not all at once
-  Rickards on China, SDR: “Next panic will be bigger than the central banks”
-  Barclays to cough up $150m in forex rigging scandal
-  Schiff on China and the threat of encryption
-  Anti-terrorism dominates G20 agenda
-  DiMartino Booth on housing and weak Eurozone numbers