By Dave Kansas
This morning at spreads Greek broaden and the cost to insure against default Greek is on the rise. Several reasons for this recent series of bad new Greek.
For beginners, Mohamed El-Erian, Director General and binding Pimco, King's CIO provides the Greece would default on its debt in three ans.Maintenant link Guys tend to brush a dark picture of the world (this is because the sad news tend to support obligations), but Mr. El-Erian is already is on many minds.His point of view is that the Eurocrats will may, on the road for a little kick and then perform some kind of restructuring.
Mr. El-Erian says default and orderly restructuring would be finally in the interest of the Greece and the euro area.
In the wake of these comments, Greek bonds become cheaper .the ' difference between Greek and lifted 10 year bonds similar German is above 7 percentage of credit default swaps encore.Les points are run in a similar way.
Along with comments by Mr. El-Erian, the Greece Bank expected GDP declined by 4% this year and unemployment will be about 12 %.Temps difficult.
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