Greece debt rating cut further by Moody's - AAD Consumer Forum

Hi & Welcome to the AAD Consumer Forum
We're a FREE consumer debt and legal forum offering help, support and debate in many areas of day-to-day life. You will need to Register a Free Account before you can join in with the discussion and contribute with your own posts. Remember to also check out the FAQ's so you can get to grips with how the forum works ready to start posting your new topics. Read about the new GDPR 2018 Rules and how it affects you as a member of AAD.

X

5corpio started a blog post Greece debt rating cut further by Moody's
7 March 2011, 18:12

Share

Tweet
Greece debt rating cut further by Moody's

FURTHER ANNOUNCEMENT OF GREECES' DEBT CRISIS

Originally posted by 5corpio

Greece debt rating cut further by Moody's

Moody'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 Ba1 to B1.
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.

"Ultimately, Moody's downgrading of Greece's debts reveals more about the misaligned incentives and the lack of accountability of credit......Read more HERE
Tags: None
Previous template Next

You must be logged in to post a comment.

Working...

X