I have to admit he was always my favourite Seinfeld character.

  • Investors treating Greece much more pessimistically than we are
  • More detail needed before rating possible on euro zone safety net, particularly on process, speed of guarantor payments
  • Safety net does not threaten guarantor AAA ratings by itself, but could add to contingent pressures
  • Financially and politically inconceivable for core euro zone countries to finance long-term debt rollover of weaker states