Thursday, April 22, 2010
Slow motion train crash ?
"Greece had its credit rating cut one step by Moodyâ€™s Investors Service as the governmentâ€™s surging debt-servicing costs undermine deficit-cutting efforts. Moodyâ€™s lowered the rating to A3 from A2, four grades above junk, the company said in a statement today. Moodyâ€™s also put a negative outlook on Greek debt, indicating itâ€™s more likely to cut it again than raise it or leave it unchanged".