Moody's doubts the Greek government's ability to implement unpopular austerity measures quickly enoughMoody's has downgraded Greece's debt to 'highly speculative' prompting an angry response from the finance ministry.
Greek bonds fell after the rating agency cut its rating from Baa1 to Ba1.Moody's cited "endemic tax evasion", "very ambitious" austerity plans, and the possibility that the EU may force a debt restructuring on Greece after 2013 as reasons for its decision.
Greece's finance ministry said the move was "incomprehensible" and called for tighter regulation of rating agencies.
Post Title
→Greece debt cut by Moody's to 'highly speculative'
Post URL
→http://viewbestworld.blogspot.com/2011/03/greece-debt-cut-by-moody-to-speculative.html
Visit View Best in The word for Daily Updated Animal Funny Pictures Collection
No comments:
Post a Comment