Fitch Ratings

Deflect and Absorb: Measuring the Greek Afterburn on American Markets 

In examining the implication of the Greek debt crisis on the American financial markets, there are several points that continue to go unnoticed. Underneath the veneer of market hysteria reports, with some suggesting that a collapse of the Greek financial structure is proof of the vulnerability of the GSEs, it appears a good time to put everything in perspective. First, take a deep breath.