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Greek Default Seen by Almost 75% in Poll Doubtful About Trichet

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Rich Miller
Bloomberg
Wednesday, June 9, 2010

June 9 (Bloomberg) — Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.

Only 23 percent say they expect the region’s almost $1 trillion rescue package to both keep the European monetary union together and prevent a debt default by a government, according to a quarterly poll of investors and analysts who are Bloomberg subscribers. More than 40 percent say Greece is likely to abandon the euro.

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“There is clearly a risk of a breakup of the euro,” says Geoff Marson, managing director at a Guernsey subsidiary of London-based Odey Asset Management, which oversees about $6 billion.

Trichet, whose ECB supported the rescue package by buying bonds of Greece and other European governments, saw his approval rating tumble from a January Bloomberg poll.

Full story here.

This article was posted: Wednesday, June 9, 2010 at 10:31 am





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