More gloomy news from Europe here
A portion:
"Bank analysts predict that Ukraine is heading for a historic default on its national debt, in a scenario that could complicate EU-Ukraine relations and have an impact on the recent Russia-Ukraine gas transit deal.
"The market is pricing in a probability of sovereign default of almost 90 percent," Commerzbank analyst Ulrich Leuchtmann told EUobserver on Monday (16 February).
3 comments:
That'si90% of what? Chances that they will default or 90% of the value of the default.
It means this:
The market thinks that there is a 90% probability of a sovereign default by Ukraine.
Therefore, in the market, prices have been and are being adjusted, taking this probability into account.
Thanks emler that's what I thought it meant but it was not clear in the article I hope that the author also shares you view.
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