According to Fitch, Greece will go into default in March

 

January 17, 2012

 

Ratings agency Fitch said, through the person in 0charge of reviewing the European sovereign rating  that Greece will go into default in March.

“Greece is insolvent and will go into default,” said Edward Parker, head of sovereign debt to study in Europe.

According to the analyst, Greece “will be unable to repay the bonds that will mature on March 20,” so that the crisis “will be prolonged.”

The Hellenic country managed to renegotiate its debt, but would not be enough to make the payment to be done in March.

“We have said for a long time we do not believe that private sector involvement is the way forward and give treatment to cease payments. Clearly there is a moratorium, no matter how they try to present it,” he said.

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