Greek Debt Talks Said To Be Deadlocked And Suspended

TALKS ON GREEK BOND LOSSES SAID TO BE DEADLOCKED – BLOOMBERG

EU OFFICIAL SAYS INVOLUNTARY GREEK HAIRCUTS CAN’T BE RULED OUT – BLOOMBERG

Euro reversed all the gains after Bundestag vote approving EFSF leveraging.

I am not sure if anyone should be hugely surprised by this.  At least I would be rather more surprised if the negotiation goes completely well. 

Do note that involuntary haircut would be what they have been trying very hard to avoid, and that should be a credit event which trigger CDSs.

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About Zarathustra

Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.