by Calculated Risk on 1/13/2012 11:39:00 AM
Friday, January 13, 2012
Financial Times: France and Austria face Downgrades, Greek Debt talks "collapse"
From the Financial Times: Eurozone nations face S&P downgrade
Eurozone governments are bracing ... after Standard & Poor’s, the rating agency, told them it would downgrade two of the eurozone’s six triple A nations.From the Financial Times: Greek debt restructuring talks collapse
One official told the Financial Times that France and Austria were due to be downgraded but this was not confirmed ...
excerpt with permission
Talks over Greece’s debt restructuring collapsed on Friday ... makes it more likely Athens will become the first government of a developed country in more than 60 years to suffer a full-scale default on its debt.
Lead negotiators for Greek bondholders said the latest offer made by Athens “has not produced a constructive consolidated response from all parties”– a clear reference to International Monetary Fund conclusions that bondholder losses must be increased significantly or a second Greek bail-out would have to be bigger than the agreed €130bn.excerpt with permission