icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
1 Mar, 2012 13:40

Brussels meeting allays Greece default fears

Brussels meeting allays Greece default fears

A complete Greek default may not be as near as many people have feared. The International Swap and Derivative Association (ISDA) says it won’t pay out insurance to Greece’s private creditors for the €100bln they had to write off.

The refusal effectively means ISDA isn’t that pessimistic about the quality of Greek Government bonds, which may come as a temporarily relief for the country. Private creditors on the other hand won’t be able to get their money back. The news comes from a two day meeting of EU member states where they are discussing the Greek problems.

Podcasts
0:00
23:13
0:00
25:0