http://www.reuters.com/article/2015/05/01/us-greece-default-ratings-idUSKBN0NM3N420150501
Most top credit
rating agencies say they would not cut Greece's rating to default if it
misses a payment to the International Monetary Fund or European Central
Bank, a stance that could keep vital ECB funding flowing into the
financial system.
Greece
owes nearly 1 billion euros to the IMF in May and almost 7 billion euros
to the ECB over July and August and there are concerns that the
government, stuck in funding talks with official lenders, will miss the
payments.
This would be an
unprecedented move that could put Athens' future in the euro in doubt
and has raised questions about whether it could set off a chain
reaction, possibly accelerating repayments due to other official and
private sector creditors and compounding Greece's problems.
Its good to know if I STOP PAYING my Mortgage its no longer considered a Default...At least I got that going for me.
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