Greece Deal Takes Lehman Scenario Off the Table

“The deal that allowed Greece to renegotiate its debt will not lead to a credit event on the scale of the Lehman Brothers failure that triggered the US financial crisis, the lead negotiator in the talks told CNBC.

Charles Dallara, head of the Institute of International Finance, said the Greek debt deal is “voluntary” and agreed to after a “marathon session” with European leaders that lasted well into the night. He said it is unlikely to cause a major problem in the market forcredit default swaps  , which are triggered in the case of debt defaults.”

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