Greece must accept outside support to avert volatility

Greek debt will remain volatile until Athens takes financial support from the EU or IMF, according to Stephen Drew.

Thames River's head of global credit, says Greece tackling its debt position in a piecemeal fashion will see its sovereigns undergo volatility throughout the first half of this year. Drew says: "Greece really has to get some closure to this, which is accepting they need financial support, which means an EU- or IMF-led bailout plan. "Greece's current fiscal austerity packages are a plaster solution, but it is not the medicine. Volatility will subside for a month then it will recommence." German chancellor Angela Merkel yesterday suggested one cure for the volatility of Greece's debt...