S&P Kraemer Laments Lack Of Progress On Greece Debt Crisis

–Says EU Is Buying Time, Reducing Spillover Effects Hopefully
–Filling Greece Financing Gap Is Main Challenge And Is Unresolved

LONDON (MNI) – Standard & Poor’s Managing Director Sovereign Moritz
Kraemer Ratings today lamented what he sees as a fundamental lack of
progress in euro zone talks on resolving the Greek debt crisis.

Speaking at the Euromoney Global Borrowers and Investors conference
here, Kraemer said:

“We must remember why these conversations are happening and it is
because there’s a gap in the financial program for the last year and how
we fill that gap is the main challenge and that still remains
unresolved,” Kraemer said.

“This is not over. There will be more summits and more summits
still. The time that is being bought is actually precious, it’s
reducing, hopefully, the spillover effects but there is no real
fundamental news that came out over the weekend”.

–London Bureau; Tel: +442078627492; email: dthomas@marketnews.com

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