Reaction details (11:44)
- No reaction was seen across asset classes following this comment despite this interesting development. Although this has not been suggested from an official, it has been speculated upon for the past few weeks and therefore not out of fitting from expectation.
Analysis details (11:44)
- Greece have a redemption due on November 16th for EUR 4.1bln which they will be unable to pay without financial assistance. This comment suggests that Greece will roll over the debt so they are not required to pay the redemption in full on this date.
- Recently sources have also indicated that the ECB may give back any profits on Greek debt back to Greece to help meet their financing gap.
09 Nov 2012 - 11:39 - - Source: Newswires
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