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NA377-Greek default is essentially a given: S&P - Jan. 24, 2012

 

Greek default is essentially a given: S&P - Jan. 24, 2012

Greece will eventually default on its debts, even if the nation reaches a deal with the private sector to restructure its debts, according to a panel of experts.

John Chambers, head of sovereign ratings at Standard & Poor's, said Tuesday that the deal being negotiated between Greece and private sector investors would "in all likelihood" qualify as a default.

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