S&P Expects Greece To Stay In Euro

S&P Expects Greece To Stay In Euro

David Beers

Greece is expected to remain in the Eurozone, said the head of sovereign ratings of Standard & Poor΄s on Wednesday.
“Our base case scenario is that there will be the same membership of the Eurozone in 12 months time,” David Beers told a conference in Dublin.

“The notion of Greece benefiting from leaving the Eurozone is a completely misdirected notion.”
David Beers also warned that credit ratings in the Eurozone could come under renewed pressure if large parts of the currency bloc slip back into recession, as expected, next year.

He said he expected the European Central Bank (ECB) and Eurozone governments to come to some sort of accommodation on how to resolve the spiraling sovereign debt crisis.
“With so much at stake, one would expect that some accommodation can be found between euro zone monetary authorities and national policy makers that balances substantive government policy actions with more aggressive steps by the ECB to counter a renewed economic downturn,” Beers said.
(source: capital)