Rating agencies attack Athens again

Published on 30 March 2011 at 11:11


"Rating agency Standard & Poor's has struck again," writes Kathimerini, following the U.S. credit rating agency’s downgrade of Greece’s rating by two notches. The previous day it was Moody's, which also threatens the Greek government “with a further downgrade if it does not ensure austerity measures, particularly those for reducing the public spending deficit and stimulating investments." Concretely, this means that "an appeal to the European Financial Stability Facility is not ruled out, nor is debt restructuring," the Athens daily explains. The Greek government has meanwhile responded by calling the rating move "unjustified".

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