UBS Chairman Says Greek Default Increasingly Seen by IMF as Controllable!
- UBS chairman says Greek default increasingly seen by IMF as controllable!
by Katharina Bart; editing by Ralph Boulton), Reuters, via http://www.channelnewsasia.com/news
ZURICH: UBS’s chairman said a default by Greece is seen by the International Monetary Fund as “systemically controllable” and he believed it would have a negligible impact on the Swiss bank itself, according to a newspaper interview published on Saturday.
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Athens is lurching closer to bankruptcy, with its next big test on May 12, when it is due to pay 750 million euros to the IMF. Euro zone finance ministers told Greece on Friday that its leftist government would get no more aid until it agreed a complete economic reform plan.
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In an interview with Neue Zuercher Zeitung, the chairman of Zurich-based UBS, Axel Weber, addressed the alternative if euro zone and Greek officials fail to reach an agreement.
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“I’ve just come from a meeting of the International Monetary Fund. There, the consensus is increasingly that a Greek default would be systemically controllable,” Weber said in the interview, without elaborating.
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- Revelation 12:1-4 New King James Version (NKJV)
The Woman, the Child, and the Dragon
1 Now a great sign appeared in heaven: a woman clothed with the sun, with the moon under her feet, and on her head a garland of twelve stars. 2 Then being with child, she cried out in labor and in pain to give birth. 3 And another sign appeared in heaven: behold, a great, fiery red dragon having seven heads and ten horns, and seven diadems on his heads. 4 His tail drew a third of the stars of heaven and threw them to the earth. And the dragon stood before the woman who was ready to give birth, to devour her Child as soon as it was born.
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