Analysis: New government won't keep Greece from default

11/6/2011 | Barron's (subscription required)

Greek Prime Minister George Papandreou has said he would step down and allow the country form a new coalition government, but that won't prevent a default, according to this analysis. Papandreou's aborted attempt to hold a referendum on fiscal austerity was another step toward default. Then came the decision by the International Swaps and Derivatives Association that the "voluntary" haircut on Greek debt would not trigger credit-default swaps.

View Full Article in:

Barron's (subscription required)

Published in Brief: