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Dec. 9 (Bloomberg) -- Greek Finance Minister George Papaconstantinou said there is “absolutely” no risk that the country will default on its debt, seeking to ease the concerns of investors after Greece had its credit rating cut yesterday.
Falling confidence in Greece's economic policies and ability to pay its debts have seen Greek shares slump 6%. The decline came after the Fitch credit rating agency cut Greece's rating to a 10-year low. Greek bond prices also fell as a result, the BBC reported.
PARIS -The Fitch rating agency downgraded Greek long-term debt ratings on Tuesday, saying the outlook for Greek public finances was negative, marking the second such rating blow for Greece in two days. Read more...
Dec. 8 (Bloomberg) -- Greece blocked a proposal to set a date for the Republic of Macedonia to start talks to join the European Union, saying the country’s name implies a territorial claim on a Greek province of the same name.
The Fitch rating agency has downgraded Greece's long-term debt ratings, saying the outlook for Greek public finances was negative. This marks the second such rating blow for Greece in two days.
London, England and Athens, Greece (FT) -- Greece saw its credit ratings downgraded to the lowest level in the eurozone on Tuesday as fears mounted over its deteriorating public finances.
ATHENS, Greece, Dec. 7 (UPI) -- Greek police and rioters clashed Monday near the University of Athens' administration building ahead of a scheduled protest rally, witnesses said.
BONN, Dec 8 (Reuters) - Greece needs to get serious about its deficit problems, Swedish Finance Minister Anders Borg said, after rating agency Fitch downgraded Greek debt to BBB+ on Tuesday. "They (Greece) need to get serious about their fiscal situation. You can't run a 10 or 12 pct deficit," Borg, whose country holds the rotating EU presidency, told reporters on the sidelines of an event in ...
Dec. 9 (Bloomberg) -- European and Asian stocks declined, dragging the MSCI World Index lower for a fifth day, after Japan’s economy grew more slowly than estimated and Fitch Ratings downgraded five Greek banks.
The European Commission “stands ready to assist the Greek government in setting out the comprehensive consolidation and reform program, in the framework of the treaty provisions for euro-area member states,” said Joaquin Almunia , who is in charge of economic and monetary affairs, in a statement late yesterday.
Dec 8 (Reuters) - Fitch Ratings cut Greece's debt to BBB+ on Tuesday with a negative outlook, the first time in 10 years a major ratings agency has put Greece below an A grade, citing fiscal deterioration in the euro zone's weakest member. The move adds to a set of bad news for the Greek economy, which has fallen into its first recession in 16 years.
Greece is set to face mounting pressure from markets looking for aggressive government action to curb the country's overspending in the wake of a credit downgrade and violence in the streets.
No Risk Of Greek Default, Finance Minister Says
A drop for financials dragged Europe stocks lower on Wednesday, led lower by a further fall in the Greek bank sector as well as a decline for Man Group on a drop in performance in one of its key funds.
Greece was hit by a second blow to its credit rating on Tuesday, marking falling confidence in its economic policy, raising the prospect of crisis budget measures and increasing strains in the eurozone.
Dec. 9 (Bloomberg) -- Ireland is poised to show Greece a way to cut ballooning budget deficits. Finance Minister Brian Lenihan will today announce plans to cut spending by 6 percent in the face of the worst recession in Ireland’s modern history.
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