Greek Debt Is About To Get Whacked (Again)

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Monday, March 22, 2010 7:36 AM

Published Oct 29 2009 by Clusterstock

Greek Debt Is About To Get Whacked (Again)

Last week, Fitch downgraded Greece's foreign and local currency ratings from A to A- due to a ballooning deficit that has spiraled out of control.

Now, Moody's is also considering a cut for Greece. It's an understandable move, considering that Greece's increasing deficit...

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What others report on the same story

WRAPUP 1-Moody's may downgrade Greece, Portugal...

* Moody's puts Greece on review, a week after Fitch cut * Portugal outlk to negative over structural probs, debt * Spreads widen to early-September high for Gre ... - [Oct 29 2009 - Reuters]

Portugal, Greece Warned by Moody's - [Oct 30 2009 - WSJ.com: Markets]

Greek Debt Is About To Get Whacked (Again) - [Oct 29 2009 - Clusterstock]

WRAPUP 1-Moody's may downgrade Greece, Portugal... - [Oct 29 2009 - Reuters]

Moody’s Raises Red Flags on Greece , Portugal - [Oct 29 2009 - WSJ.com: MarketBeat]

Quotes

... Moody s : "The deterioration of the fiscal position raises serious questions about the sustainability of Greek public finances and the problem will be compounded by a less favourable global economic environment going forward" says Arnaud Marès...

Greek Debt Is About To Get Whacked (Again) [Clusterstock - Oct 29 2009]

...Risk Group. "The new Greek government, which came to power on 4 October, has unveiled revised deficit figures for 2008 and 2009 showing a sharp deterioration of public finances relative to the previously reported estimates. Although the recession is less severe in Greece than in many other developed economies, the projected deficit for 2009 has been revised upwards, potentially to as high as 12.5%. This is more than twice the level of the previous forecast and substantially higher than the Eurozone average. The magnitude of the revision perpetuates Moody s longstanding concerns about the transparency and reliability of official statistics in Greece" says Mr. Marès...

Greek Debt Is About To Get Whacked (Again) [Clusterstock - Oct 29 2009]

First Reported 18 hours ago - Updated 27 mins ago - 6 Documents

Silvio Berlusconi

EU Members Divided on Aid to Greece

European leaders sent out conflicting signals recently over aid to Greece, with Germany's Angela Merkel urging Greece to solve its problems by itself and Italy's Silvio Berlusconi strongly backing EU’s support, Xinhuanet reported on March 22."I don't ... [Published 27 mins ago by Caijing]

Entities: Greece, European Union, Silvio Berlusconi, Angela Merkel

First Reported Mar 21 2010 - Updated 6 hours ago - 40 Documents

Hank Paulson

Greece Has A Completely Unrealistic Rescue Plan For Itself

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Entities: Greece, Eurozone, Hank Paulson, Refinancing

First Reported 7 hours ago - Updated 7 mins ago - 5 Documents

International Monetary Fund

Asia stocks dip on Greece worries, euro eases

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Entities: Greece, International Monetary Fund

First Reported 19 hours ago - Updated 2 hours ago - 3 Documents

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Germany is split over EU aid deal for Greece

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Entities: Greece, European Union, Angela Merkel

First Reported Mar 20 2010 - Updated Mar 21 2010 - 16 Documents

EU at risk if no aid, warns Greece

ATHENS: Greek Prime Minister George Papandreou implicitly criticised Germany on Saturday for opposing efforts to help his country out of its fiscal crisis, warning they risked destabilising the EU."We have struggled for years to build a strong Europe, ... [Published Mar 21 2010 by Economictimes]

Entities: European Union, George Papandreou, Greece, Athens

First Reported 15 hours ago - Updated 6 hours ago - 5 Documents

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Entities: Greece, Silvio Berlusconi, Angela Merkel, Athens, Berlin

First Reported 8 hours ago - Updated 3 hours ago - 4 Documents

Greece can resist borrowing until end April: govt

Govt undecided when it will tap capital markets for funds. 22 Mar 2010 2:40 PM ... [Published 3 hours ago by Business Spectator]

Entities: Greece, Capital Markets

Blogs

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Ratings agencies change their mind about everyt... [FT Alphaville - Oct 29 2009] There must be something in the air - or perhaps it's as the old adage goes: when the facts change, change your mind. In any event, Moody's has joined its rating ...
Downgrades ‘Unlikely’ for UK Notes, Despite Con... [Housing Wire - Nov 04 2009] Despite conflicts of interest presented when originators acquire structured finance notes through the central bank repo system present in the UK, the likelihood ...
Moody's Expects U.S. Apparel Sales to Continue ... [Retail Sector and Stocks Analysis from Seeking ... - Nov 05 2009] Research Recap submits: Moody’s today reiterated its negative outlook on the US apparel industry “because we expect apparel sales will continue to weaken through ...
Earnings Preview: Moody's Corp. [Financial Sector and Stocks Analysis from Seeki ... - Oct 28 2009] Moody's Corp. (MCO) is expected to report Q3 earnings on Thursday, October 29 with a conference call scheduled for 11:30 am ET. GuidanceAnalysts are looking for ...
Private Equity Fires Back at Moody's [DealBook - NY Times - Nov 05 2009] The Private Equity Council criticized Moody's Investors Service for a new report that was critical of the private equity industry. ...

Audio/Video

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Olympic flame lit for Vancouver [Reuters Video: Top News - Oct 22 2009]
Olympic flame heads to Vancouver [Reuters Video: Top News - Oct 29 2009]

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Greek Debt Is About To Get Whacked (Again)

EU Members Divided on Aid to Greece

Greece Has A Completely Unrealistic Rescue Plan For Itself

Asia stocks dip on Greece worries, euro eases

Germany is split over EU aid deal for Greece

EU at risk if no aid, warns Greece

Europe divided on aid to Greece before summit

Greece can resist borrowing until end April: govt