former

Under the current proposal by the French (30/70 rollover)& the ECB is only window dressing and S&P has said that they would mark the maturing debt as in default. Till S&P came out with their opinion there was a lot of grand standing. Not sure what the compromise would be. Besides any compromise IMO would tantamount to lowering standards. Not that I am in favor of what the ECB is currently doing by accepting lower rated debt.