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Investors See Greece Default Likely

Pessimism grows amid worries that Ireland and Portugal are next, survey reveals.

By Simon Kennedy | Updated on May 16, 2011

International investors view a sovereign default by a euro-area nation as more likely than not with more than four-fifths betting Greece will eventually fail to pay off its debt.

Eighty-five percent of those surveyed this week said Greece probably will default, with majorities predicting the same fate for Portugal and Ireland, which followed Greece in seeking European Union-led bailouts, a new Bloomberg Global Poll shows. The outlook for all three countries deteriorated since January.

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