Reuters
January 17, 2012

Greece will default shortly on its debt obligations, a senior Standard & Poor’s official told Bloomberg Television on Monday.

“Greece will default very shortly. Whether there will be a solution at the end of the current rocky negotiations I cannot say,” said Moritz Kraemer, the head of the agency’s European sovereign ratings unit.

“There is a lot of brinksmanship on and a disorderly default will have ramifications on other countries but I believe policymakers will want to avoid that … The game is still on.”

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