http://www.bloomberg.com/news/2011-06-13/greece-s-long-term-rating-cut-to-ccc-by-s-p-on-outlook-for-restructuring.html
Greece was branded with the world’s lowest credit rating by Standard & Poor’s, which said the nation is “increasingly likely” to face a debt restructuring and the first sovereign default in the euro area’s history.
“Greece will default -- it’s a question of when, rather than if,” said Vincent Truglia, Managing Director at New York-based Granite Springs Asset Management LLP in New York and a former head of the sovereign risk unit at Moody’s. “It’s a basic solvency issue rather than a liquidity issue. Only a debt writedown will do.”
---------
SS says
So we are getting close.
As I have said many times before - there is no way out for Greece.
I think EUR will take massive pain this year and next - Expect a STRONG USD
I have EUR Puts at 138 and 144 Strike with Year End Expiry
Greece was branded with the world’s lowest credit rating by Standard & Poor’s, which said the nation is “increasingly likely” to face a debt restructuring and the first sovereign default in the euro area’s history.
“Greece will default -- it’s a question of when, rather than if,” said Vincent Truglia, Managing Director at New York-based Granite Springs Asset Management LLP in New York and a former head of the sovereign risk unit at Moody’s. “It’s a basic solvency issue rather than a liquidity issue. Only a debt writedown will do.”
---------
SS says
So we are getting close.
As I have said many times before - there is no way out for Greece.
I think EUR will take massive pain this year and next - Expect a STRONG USD
I have EUR Puts at 138 and 144 Strike with Year End Expiry
No comments:
Post a Comment