Name resolution in optional parameter initializers

How do you think, what is the meaning of each T in the following C# 4.0 program? Will this code compile?

class A
{
    public class T
    {
        public const int X = 1;
    }

    public void Foo<T>(int x = T.X, T y = default(T))
    {
    }
}

I will give the explanation in the next post.