Behind every AAA collateral

Dallara met with about 20 banks and insurers in Paris yesterday to examine proposals to roll over maturing bonds into new Greek securities. The discussions included a plan floated last week by French banks to roll over 70 percent of bonds maturing by mid-2014 into new 30-year Greek securities backed by AAA-rated collateral, as well as other proposals, Dallara said.Bloomberg

is a German middle class.