Tuesday 13 September 2011

'No appetite to save the euro zone' - The National

Greece now has the world's lowest sovereign debt credit rating.

Hardly surprising then that Tim Fox, the chief economist at Emirates NBD, has warned that the likelihood of the debt-laden euro-zone nation defaulting is "quite high".

"At the end of the summer it looked like Greece had been saved," he says. "But the situation has got worse. It is no longer a question of an orderly default. It might get very messy. Nobody seems to have the appetite or the ambition to save the euro zone."


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