One day after Moody’s downgrade by 3 nothes, Sarah Carlson, analyst at Moody’s Investors Services said that the losses of a possible default will be around 50% for creditors. Speaking to Greek economic portal Capital, Carlson said that “any estimation of losses in the event of a default would be speculative”. Historically, the losses in cases of state defaults are on average 50%, she stated.
According to Calson, Moody΄s considers administrative weakness and tax indiscipline to be the main threat in Greek government’s attempt to stabilise the country’s large public debt. (Read Full Article here )
Speculative or not, Sarah Carlson injects her poison on the dried out veins of Greece. She’d better eat than speaking…
