EFSF super-sizing weighs on nervy SSA borrowers
It's the SSA market’s elephant in the room. The still unratified expansion of the European Financial Stability Facility (EFSF) to €440bn and then proposed super-sizing to €2tr could reshape sovereign, supranational and agency borrowing, bankers said this week. The sector’s spreads and the ratings of EFSF’s sovereign guarantors head aspects at risk as a result.
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