As Debt Costs Soar, Greece Facing ‘Lehman moment’

As Greece’s stock market plunges and borrowing costs soar, analysts warned the country could be facing its “Lehman moment” as it faces bankruptcy and more financial chaos.

Greek bank stocks fell dramatically on Tuesday and its borrowing costs rose sharply following news that European Central Bank (ECB) staff were mulling contingency plans for both an “orderly” and “disorderly” default by Greece, sources told CNBC.

A default could lead to Greece leaving the euro zone—something that closely-watched investor Mark Mobius said could herald the “beginning of the end” of the single currency bloc.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.