Sovereign Defaults, Greece, etc. — A Live Chat

This Monday at 9am PST Felix Salmon of Portfolio and I are going to have a live chat here about sovereign defaults and the credit markets. Folks will be able to participate, and we can all tear into what’s happening. Lots going on, including the WSJ story today about the potential for Greece downgrades to put pressure on the European Community.

Will Greece be the first country to test the euro zone’s cohesion? Following a downgrade of Greece’s sovereign rating this week that is no longer an idle question. At a time of heightened political anxiety following the recent riots and with Prime Minister Costas Karamanlis clinging on to a one-seat majority in parliament, that has fueled speculation of a possible debt default.

Greece now has the lowest-level A-rating from Standard & Poor’s that the European Central Bank will accept for sovereign debt it takes as collateral. That’s a problem — if the ECB stops accepting the debt, there won’t be any buyers and Athens will struggle to find buyers.

Be sure to come by at 9am PST Monday.

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  1. The U.S., Botswana, and the Trouble with Sovereign Credit Ratings
  2. Live Sovereign Wealth Fund Performance
  3. Top Sovereign Credit Ratings League Table
  4. Sovereign vs. Relational: Wham! Bam! Crash!
  5. The Real Trouble with Sovereign Wealth Funds