International Business Times – Hedge funds are struggling with the Greek debt crisis in 2011, according to industries sources who spoke to NYTimes. Hedge funds that were long European financial stocks have been hurt by fears that a Greek default would hurt the companies’ Greek debt holdings. A worse scenario is that it would spread to the bonds of other European countries.
The euro currency, meanwhile, has declined since early June but performed well last week because the Greek government passed a tough austerity, thereby securing financing from Europe and staving off default.
