Quoted by Reuters.
Also crossing the wires is a Greek source telling Dow Jones that the ECB favors new haircuts for Greece.
The ECB desperately wants to avoid a “credit event” so that it can continue to lend against Greek capital. It’s Armageddon if they can’t.
The IIF’s Dallara says there will be major contagion in the case of an outright default.
EUR/USD is backing away from resistance in the 1.3940/50 area and now trades at 1.3920.
