Bloomberg News

Greece Deficit Problems Not Solved With Default, Marx Says

February 07, 2012

Feb. 7 (Bloomberg) -- Greece’s deficit problems won’t be solved with a default and the country is in a different situation than Argentina was in when it stopped payments on $95 billion of debt in 2001, former Argentine Finance Secretary Daniel Marx said.

Argentina’s “independence” from economic blocs such as the euro allowed it to devalue and the country was running a surplus at the time of its default, Marx said in an interview on Bloomberg Radio.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: Bill Faries at wfaries@bloomberg.net


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