It's another 'Oh dear' moment for Greece as the country slides into another political mess:
And still, with CDS widening by a massive 5.63% in one day, Greece is still performing better than Ukraine, which is facing a report from the IMF estimating fiscal shortfall of USD15 billion on top of what the Fund already previously estimated to be USD17 billion (http://www.cnbc.com/id/102254994#). Now, the total expected cost of underwriting Ukraine is at USD42 billion and counting.
I estimated before that Ukraine will require around USD55-60 billion in supports and the number still stands. As I suggested on numerous occasions over the year, Ukraine needs a Marshall Plan, not a short-term lending facility.
Here is the summary of changes in Ukraine's (and Russian) CDS:
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