NEW YORK (Commodity Online): For all those investors who have been tracking the Greek debt drama and wondering when the country will default, here is a date – March 20, 2012.
In an interview with Bloomberg, Fitch ratings Managing Director Edward Parker says that Greece is likely to default on a 14.5 billion Euro bond payment due on March 20 while adding that even a “voluntary” haircut on investors will be seen as a default.
“The so-called private sector involvement, for us, would count as a default, it clearly is a default in our book. So it won’t be a surprise when the Greek default actually happens and we expect it one way or the other to be relatively soon.”
Greece is one of the most-indebted country in the Euro zone and has been the focus of much debate in 2011. Most analyst have predicted that Greece would be the first Euro-zone nation to default, thereby unleashing a tidal wave of credit defaults across Europe and rest of the world
