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02/23/2012 12:28 PM ID: 91562 Permalink   

Greek Credit Rating Downgraded

 

International ratings agency Fitch recently cut Greece´s credit rating from "C" to "CCC", saying the country is likely to "default in the near term".

The move comes after the European Union agreed on a second bailout package for the troubled country.

"Shortly after completion of the exchange with the issue of new securities, Greece´s sovereign rating will be moved out of the ´RD´ category," the agency says.

 
  Source: www.upi.com  
    WebReporter: edie Show Calling Card      
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  4 Comments
  
  An aparent leaked document showed that  
 
greek officials and people in the top brass of the EU and on wall street are expecting a default on March 23rd. Not sure if it is true or not but if so, it said how Greece would go back to its native currency and the consequences for euro related investments would be dire. If you see a huge sell off of european stocks just short of that date, I would not be surprised to see a default happen afterward.
 
  by: slavefortheman     02/23/2012 10:00 PM     
  Headaches  
 
If you think the greeks are going south, wait until the US debt is downgraded again. Ol" Sugar lips the snake oil salesman in the WH isn´t going to change his lifestyle or lose sleep like you and I will but then it´s no sweat off his brow....right bro, you don´t mind covering for him do ya?
 
  by: ONTIME   02/24/2012 12:44 AM     
  @ONTIME  
 
This is about the greeks, let´s keep it that way.
 
  by: starlock   02/26/2012 06:00 AM     
  A default will prove a point to the world  
 
Even governments cannot live beyond their means indefinitely.

I wonder why banks and investors still continue to pour gasoline (substitute vast sums of money) onto an already out-of-control financial bonfire?

Are they really that dumb? I had hopes for them. Same old shit, different day.
 
  by: White Albino   02/26/2012 01:36 PM     
 
 
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