Greek default is inevitable

Note: This section contains information in English only.
Source: Forexfactory
Greece will default on the exorbitant amount of its debts even in case the country agrees with private bondholders on debt restructuring, said an expert panel. The deal with private investors implies reduction of the country's debt load by 40% from 160% to 120%. But even 120% is a very high level that would hold down Greece's credit rating at a very low level, according to John Chambers, head of sovereign ratings at Standard & Poor's.
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