Draghi sounds like he’s bracing for a Greek default
Draghi says he won’t comment on Greek debt-swap negotiations but noted that Greece’s program isn’t delivering what was expected in October. He said a realistic solution brings Greece’s debt-to-GDP of 120% by 2020. He added that the gross position of Greek outstanding CDS is a question mark, in case of a default.
That last comment is surprising, they have had plenty of time to prepare for a default.