Market News reports that Greece doesn’t want to use its state-owned assets for collateral for billions in new EU/IMF loans, fearing political chaos. Greece will stay in recession through 2013, the Troika expects, according to the article. The IMF is unhappy on the lack of accord on a new Greek bailout, according to EU sources.
In essence, the Greeks are saying “trust us, we’re good for it”…
EUR/USD slid to 1.4387 on the article, and the total lack of trust in Greece’s ability to repay its debts.
