I think that it would be a mistake for any institution to think that their stake in a default or in a voluntary accord is determined by the amount of their exposure, hedged or unhedged.

Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.

If the official community is interested in asking the private sector to take another look at Greece, then it will have to be only as part of a broader process of addressing the full range of sovereign debt issues in Europe.

Charles Dallara Quotes