Lazard Ltd. (LAZ) Tuesday confirmed that it has been hired by the Greek government for financial advice, but the bank indicated that a restructuring of the nation’s debt is not on the table.
“Lazard confirms that it has been hired to assist the Greek authorities. It is to be noted that a restructuring of Greek debt has never been an option to be considered,” the financial advisory co. said in a short written statement.
News of Lazard’s appointment comes after the EU and the IMF Sunday agreed to a $146 billion – three-year package to help Greece meet its debt maturities. Some analysts however, remain skeptical on Greece’s ability to avoid a default.
The NYT: “Stéphane Deo, an economist at UBS in London, said he thought the aid package would initially be successful, but that Greece could run into trouble again in a few years, when it sought to issue bonds on the open market.
“At some point, a debt restructuring remains unavoidable,” Mr. Deo said in a research note.”