Greek 2 year bonds are reaching parity with recent annual yields in silver! Too bad Greek bond holders are likely to never receive those gains.
Bloomberg just reported that the ECB is considering a temporary Greek default.
The countdown to Greek expulsion from the Euro, and Lehman 2.0 is on.
European Central Bank council member Ewald Nowotny suggested the bank may compromise and allow a temporary Greek default as officials scramble to fix a sovereign debt crisis that’s spreading to Italy and Spain before a leaders’ summit in two days.
European Central Bank council member Ewald Nowotny suggested the bank may compromise and allow a temporary Greek default as officials scramble to fix a sovereign debt crisis that’s spreading to Italy and Spain before a leaders’ summit in two days. Nowotny said there’s “a full range of options and definitions, from a clear- cut default, selective default, credit event and so on.”
“This has to be studied in a very serious way,” he said. “There are some proposals that deal with a very short-lived selective default situation that will not have major negative consequences.”
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