dreamdancer 0 #1 March 8, 2011 come to the party spain... QuotePortugal took a step nearer a humiliating multibillion-pound bailout by the European Union on Monday after Greece saw its credit rating slashed to a new low and speculation grew that eurozone leaders will fail this weekend to agree measures to prevent a repeat of last year's sovereign debt crisis. The ratings agency Moody's cut Greece's credit rating by three notches to B1, which analysts said was deep into "junk" territory, sending the cost of insuring the country's debt soaring. The downgrade, which was attacked as reckless and "completely unjustified" by the Greek government, highlighted the collapse in confidence among international investors who fear peripheral eurozone countries such as Greece, Portugal and Ireland cannot afford to repay their debts. Greece, like Ireland, has already been forced to accept a rescue package put together by the EU and the International Monetary Fund. Portugal is widely regarded as the next country in need of a bailout as it struggles to refinance its debts while still in recession. Deutsche Bank credit analysts said: "There seems to be an increasing view from EU leaders that the need for a complete overhaul of the current rescue framework is no longer required. For us, this is increasingly leaving the peripheral situation as a potential macro shock in the months ahead." EU leaders fear offering a bailout to Portugal will leave Spain exposed as it is wrestling with massive bank debts. http://www.guardian.co.uk/business/2011/mar/07/greece-angered-moodys-cuts-credit-ratingstay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
Skyrad 0 #2 March 8, 2011 The Euro will never work as is for the PIGS countries.When an author is too meticulous about his style, you may presume that his mind is frivolous and his content flimsy. Lucius Annaeus Seneca Quote Share this post Link to post Share on other sites
kallend 2,150 #3 March 8, 2011 Why would ANYONE trust Moody's opinion any more? They were the outfit that gave AAA ratings to junk mortgage backed securities.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
dreamdancer 0 #4 March 8, 2011 but this is the all new, improved moody's...stay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
kallend 2,150 #5 March 8, 2011 Quotebut this is the all new, improved moody's... Oh, OK. Did they promise not to do it again?... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
