More on Greece: Greece rating cut by Moody's amid default warning
Credit rating agency Moody's has cut Greece's rating, warning that a planned debt swap would constitute a default. The rating was cut another three notches from Caa1 to Ca - just two more notches shy of a default rating. "The announced EU programme... implies that the probability of a distressed exchange, and hence a default, on Greek government bonds is virtually 100%," the agency said. The debt swap would increase Greece's borrowing terms by up to 30 years. Read more here: http://www.bbc.co.uk/news/business-14271936 J - Ninety percent of politicians give the other ten percent a bad reputation. - Henry Kissinger Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. - John Quinton ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:340934 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
