Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, comments that official creditors see Europe better positioned for a Greek exit.
Key Quotes
“Most observers weighing in on the issue of Greece have emphasized economic and financial linkages. The official creditors suggest that Europe is better positioned for a Greek exit. The banks are stronger. There are backstops, like ESM and OMT in place.”
“At the same time, Greece's primary budget surplus means that it is not borrowing any longer for domestic purposes. It is only borrowing money to services its existing stock of debt.”
Key Quotes
“Most observers weighing in on the issue of Greece have emphasized economic and financial linkages. The official creditors suggest that Europe is better positioned for a Greek exit. The banks are stronger. There are backstops, like ESM and OMT in place.”
“At the same time, Greece's primary budget surplus means that it is not borrowing any longer for domestic purposes. It is only borrowing money to services its existing stock of debt.”
