mercredi 14 avril 2010

La citation du Jour

Greece misrepresented the true state of its finances, it has enormous off-balance sheet liabilities, it is expected to run a double-digit budget deficit to GDP this year, it has a heavy bond issuance schedule this year – it was bound to have a crisis at some point wasn’t it? But what’s the difference between Greece and the rest of the OECD? Only that it is small enough to be bailed out.

-Dylan Grice, Société Générale

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