Monday, January 16, 2012

S&P: Greek Default Imminent

S***'s about to get real according to S&P:
  • KRAEMER: GREECE, CREDITORS `RUNNING OUT OF TIME' IN DEBT TALKS -BBG
  • KRAEMER: EURO LEADERS HAVEN'T TACKLED CORE UNDERLYING PROBLEMS -BBG
  • KRAEMER SAYS EUROPE MUST DEAL WITH IMBALANCES, COMPETITIVENESS -BBG
  • KRAEMER SAYS HE BELIEVES GREECE WILL DEFAULT SHORTLY - RTRS



We can't wait to hear how a hard default will be reclassified as something other than a default, in order to prevent a derivatives default event.