Arab Today, arab today sp warns of \selective default\ for greece
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

S & P warns of \'selective default\' for Greece

Arab Today, arab today

Arab Today, arab today S & P warns of \'selective default\' for Greece

Singapore - AFP

Plans to roll over Greece\'s debt risk putting the country into a selective default, ratings firm Standard & Poor\'s warned Monday. Eurozone finance ministers late Saturday cleared the way for the next 12-billion-euro tranche of last year\'s 110-billion-euro ($160 billion) EU-IMF bailout for Greece after the country\'s parliament passed tough austerity cuts. But negotiations for the next tranche could be more complicated because some governments want private investors to share the burden by agreeing to voluntarily \"roll over\" their Greek debt. France, whose banks hold a sizeable proportion of Greek debt, has proposed among other measures that lenders roll over their loans into new 30-year bonds, giving Greece more time to put its financial house in order. \"It is our view that each of the two financing options described in the Federation Bancaire Francaise (FBF) proposal would likely amount to a default under our criteria,\" it said. The \"debt roll over proposal could result in a selective default for Greece,\" it said. S & P said the proposal by French banks may change \"and it is possible that it could take a form that results in a different rating outcome.\" But it maintained that regardless of whether the proposal is implemented \"we continue to believe that (Greece\'s) uncertain ability to implement the revised EU/IMF programme is a key risk weighing on its credit standing.\" S & P last month lowered Greece\'s long-term rating to \"CCC\" from \"B\". It said one of the reasons for the downgrade was the \"rising risk\" that the financial rescue package \"could require private sector debt restructuring in a form that we would view as an effective default of its debt obligations.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sp warns of \selective default\ for greece Arab Today, arab today sp warns of \selective default\ for greece

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sp warns of \selective default\ for greece Arab Today, arab today sp warns of \selective default\ for greece

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday