IIF: Greek Default Not Worst Outcome For Banks
Greece’s creditors may be willing to risk a selective default of the country, Charles Dallara, the managing director of the Institute of International Finance, told Bloomberg.
“It may well be that some rating agencies reach judgements that involve a selective default,” Dallara said in an interview.
“I don’t think that a temporary period of selective default as it has been narrowly framed for sovereigns in the past is necessarily the worst thing that could happen here”, he added.
His comments reflect a contrast with the opposition to any type of default by the European Central Bank, European Union and Greece, while Germany revived a proposal for bond swap to extend Greek debt maturities, according to the news agency .
(capital.gr)
***
Arrivano prima le notizie dalla rete ...