Greece downgraded 2 notches

Discussion in 'Europe' started by ekrem, Apr 9, 2010.

  1. ekrem
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    ekrem VIP Member

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    (....)
    Fitch, one of the world's big three ratings agencies, lowered Greece's rating by two notches to BBB- and said the outlook on the country remains negative.
    (....)
    The Greek economy is forecast to contract by 2% this year after a similar fall in 2009, but some economists now expect the decline to be sharper.
    (....)
    Fitch's comments sent Greek 10-year bonds lower, pushing their yield to 7.20% from 7.12%. This rate, almost twice as much as Britain's, makes Greek funding practically unsustainable, analysts have said.

    "Two notches is quite a downgrade, but it is potentially going to be junk, which would be rather upsetting," said Elisabeth Afseth, of Evolution Securities.

    Link
    Crisis-hit Greece downgraded by Fitch | Business | The Guardian
     
    Last edited: Apr 9, 2010
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Greece about to go broke...
    [​IMG]
    Greek bailout talks break down again
    Wednesday 24th May, 2017 - Hopes for a breakthrough in bailout negotiations for cash-strapped Greece have been dashed again and another deadline has been set.
     
  3. montelatici
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    montelatici Gold Member

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    You know what they say, if you the bank $1,000 the bank owns you, if you owe the bank a billion dollars, you own the bank. Greece won't go bankrupt, stop kidding yourself.
     
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  4. Bleipriester
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    Bleipriester Freedom!

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    Greece is not that important economically. The funny thing is that the Euro has Greek lettering on it even before Greek joined the Eurozone. And now, after Turkey is not the good partner anymore, they will not let them go.
    But it is impressing how quick Greece falls again into the crisis soon after they declared it overcome. Not the first time. The EU did a lot of shit to Greece, by the way. They payed fishers to destroy their boats and farmers to destroy their fields. Overfishing and modernization they say and the amount of money was quite impressing. Scorched earth, however, is the result.
     

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