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Friday, January 13, 2012

Financial Times: France and Austria face Downgrades, Greek Debt talks "collapse"

by Calculated Risk on 1/13/2012 11:39:00 AM

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.

One official told the Financial Times that France and Austria were due to be downgraded but this was not confirmed ...
excerpt with permission
From the Financial Times: Greek debt restructuring talks collapse
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