Greece: Fitch says near default, Private creditors confident deal will get done
Greek prime minister Lucas Papademos. Photo Credit Jock Fistick Bloomberg
The rating agency Fitch said today that Greece´s default is almost inevitable, but the negotiators in Greece are saying they are near a deal with private creditors that would give them cash and securities with a market value of about 32 cents per euro of government debt, according to Bruce Richards, a hedge-fund manager on the creditors’ committee.
“I’m highly confident the deal will get done,” said Richards, chief executive officer of New York-based Marathon Asset Management LP, in a telephone interview today with Bloomberg Businessweek.
Marathon, which has $10 billion under management, is…READ MORE HERE