Tuesday, Dec 08, 2009

Iron mixed with clay

Telegraph: Greece put on standby for debt downgrade

"Fears over the solvency of Greece reached a new level on Monday night as Standard & Poors put the country's debt on notice for an imminent downgrade..... It must either deflate and accept slow and painful economic stagnation, or default on its debts, calling the wider euro project into question....with others warning that the UK is similarly exposed.....S&P also revised its outlook on Portugal’s sovereign-credit rating to “negative” from “stable”, blaming a deterioration in public finances."

Posted by cat and canary @ 11:51 AM (1008 views)
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2 Comments

2. Danno said...

Nice sovereign debt default crisis on the way. Stage two of the economic callapse.

Tuesday, December 8, 2009 08:52PM Report Comment
 

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