Goldman Sachs says that Greek paper could surprise since better-than-expected economic performance and government austerity efforts may ware down fears over a potential Greek sovereign default, Dow Jones Newswires.
It says that market consensus “remains extremely negative on the debt trajectory for Greece.”
But with Greece showing signs of a slightly shallower contraction than expected, and with the budget deficit in the first half down 46%, “positive surprises for euro assets could come out of Greece” as the market re-rates Greek debt.
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