JANE BURGERMEISTER:’Greece Default Anticipated by 85% in Investor Poll, reports Bloomberg’
By Simon Kennedy – May 13, 2011 6:00 AM GMT+0200, Bloomberg
International investors view a sovereign default by a euro-area nation as more likely than not with more than four-fifths betting Greece will eventually fail to pay off its debt.
Eighty-five percent of those surveyed this week said Greece probably will default, with majorities predicting the same fate for Portugal and Ireland, which followed Greece in seeking European Union-led bailouts, a new Bloomberg Global Poll shows. The outlook for all three countries deteriorated since January.
“All these countries will go bust at some stage,” said Wilhelm Schroeder, a poll participant who helps manage the equivalent of about $172 million for Schroeder Equities GmbH in Munich. “I just can’t see a scenario in which these countries get out of their debt problems.”
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