Investors fear default in Europe
21 March 2011 @ 13:29
The findings translate into a vote of no confidence in the European Union’s efforts to avert a full-blown debt crisis, despite plans to replace the existing €280bn ($396bn) European Financial Stability Fund with a €500bn European Stability Mechanism, due to be rubber stamped at a Brussels summit later this week.
Some 70 per cent of money managers, hedge funds, proprietary traders and corporate trading desks believe there will be sovereign debt restructurings or defaults in the next three years, says a survey of more than 1,000 investors by Barclays Capital.
Read the full article at
FT.com
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