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Monday, March 7, 2011

Greece note, Moody's down three-step

Monday, March 7, 2011
Greece's post-decision-note 'Ba1'den' B1, while the appearance in the 'negative', respectively.
Foundation to the statement made by the country's structural reforms to be very ambitious and will continue to experience difficulties in collecting remarkable specified.
The statement, reducing the country's credit rating continued economic difficulties and the risks of failure to pay the debt to be effective after the year 2013, Greece's shout outlook "negative" determination as, over a large debt burden and serious implementation of structural reform package to reflect the risks are emphasized.
Moody's shouts cut the credit ratings for Greece with completion of the review initiated on Dec. 16 reported in 2010.
International credit rating agency Fitch on January 14 in Greece at "BBB-" credit rating to "BB" or pulling the Standard & Poor's (S & P) to shout in the country the appearance of "negative" that said to watch.
Greece is an unfair description of the cuts came a shout from the Ministry of Finance.
Greece, with 110 billion euros in 2010 found the EU and the IMF signed an agreement had taken a rescue package. However, many experts said is quite heavy for the government of Athens, the conditions of repayment.
Greece supports the recent statement on this subject the economy to the European Commission Olli Rehn arrived. Rehn, envisaged as a payback period of 3.5 years for Greece to 7 years stretch stated. Rehn said earlier, had brought on the agenda for Ireland's proposal to provide interest tarfında convenience.

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