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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 389.75+0.5%4:00 PM EST
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To: TobagoJack who wrote (76941)7/27/2011 12:56:27 PM
From: 2MAR$  Read Replies (1) of 218125
 
Via from ForexLive.com:

Greece cut to CC from CCC by S&P, negative outlook; amounts to a selective default
By Jamie Coleman || July 27, 2011 at 16:32 GMT
Not much reaction. When ratings are that low, doesn’t much matter….

  • Debt restructuring plan amounts to a selective default
  • S&P views the EU’s debt restructuring proposal as a “distressed debt exchange”
  • The debt exchange and rollover options are unfavorable to investors
  • Recovery rate of 30-50% expected from bondholders
* John Galt site , here ...kind of humorus "Don't Worry Be Happy"

johngaltfla.com

Euro PB

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