04-28-2010, 02:15 PM
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#15
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PatsFans.com Supporter
Join Date: May 2008
Location: MA
Posts: 5,609
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Re: What Henry Kissinger said about Greece in 1974
S&P lowered Spain's rating as well: S&P slashes Spain debt rating - Apr. 28, 2010
and also comments on Greece's situation:
Quote:
"Greece is going to have to undergo a massive bailout, which Germany's hesitant to give, or some sort of default," said Carbacho-Burgos.
Although the idea of a default spooks investors, who recall the Argentine debt crisis earlier in the decade, Carbacho-Burgos said an orderly default, managed by the European Union and International Monetary Fund, would be more likely.
"I don't think there would be [a unilateral default]," he said. "That typically happens when there's a change in government, but Greece's prime minister is relatively new and has shown commitment to service debt with help from a bailout."
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edit...2012 BABY!
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