Greek Optimism Severely Misplaced: Huge Risk Of Political Failure |
| February 13, 2012 | February 2012 Bond Updates |
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Despite an initial positive reaction to the Greek austerity deal passed this weekend, the Hellenic Republic is by no means out of the woods yet, even in the very short-term. Leaving out the longer-term issues of debt sustainability and growth, political risk has increased exponentially as major party leaders have to identify ?325 million ($430 million) in spending cuts, ?3.3 billion ($4.4 billion) in budget cuts, and manage to commit to austerity beyond the coming elections. |
| View more at: http://www.forbes.com/sites/afontevecchia/2012/02/13/greek-optimism-severely-displaced-huge-risk-of-political-failure/ |
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