Moody’s Doesn’t See Voluntary Participation on Greece Debt

Moody’s Investors Service said it’s “hard to imagine” voluntary investor participation in a Greek debt restructuring and any default would increase the risk of Portugal and Ireland being unable to meet payment obligations.

“It’s hard to imagine something that’s truly voluntary in the current climate,” Bart Oosterveld, managing director in charge of sovereign risk at Moody’s, said at a press conference in Frankfurt today. “The default risks for peripheral European countries continue to increase.”