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Home / daily news channel / Archive page 37
 
Saturday 11 February 2012
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Greece now has lowest credit rating in the worldThe risk of a default by Greece on its sovereign debt has risen to such a level that a leading ratings agency has cut its debt grade by three notches.As a result of the cut by Standard and Poors, Greece now has the lowest credit rating of any country in the world.Greece's debt was downgraded from B to CCC. “Our view is that there is a significantly higher likelihood of one or more defaults,” Standard and Poor's said in a statement released on Monday. “Risks for the implementation of Greece’s EU/IMF borrowing program are rising, given Greece’s increased financing needs and ongoing internal political disagreements surrounding the policy conditions required.”Credit-default swaps on Greece, and other European countries under pressure over burgeoning debt levels (Ireland and Portugal) soared on Monday on the news of the downgrade. more from daily news »
Greece has highest number of drownings in Europe
Greek protesters rally for mass action and strikes
Famous expat writer Patrick Fermor dies in England
150,000 public sector jobs to go by 2015
Athens Special Olympics flame lit
Parthenon pediment removed for restoration
Focus on problems of central Athens
Greece Threatens US Economy
PM says country's default avoided


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