User:Nick Gardner /Sandbox: Difference between revisions

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Greece
Original sin In the context of the financial problems experienced by developing countries and emerging economies, this refers to the difficulty they face in borrowing abroad in their own currencies. Since this difficulty is experienced even by countries that have behaved well, it is dubbed "original sin" as being beyond their control.
December 2009 -- S&P on December 7 puts the country's A- sovereign rating on negative watch.
 
On Dec 8, Fitch Ratings, which had cut Greece to A- when the government revealed the higher deficit, cuts Greek debt to BBB+ with a negative outlook, the first time in 10 years a ratings agency has put Greece below the A investment grade.
the inability of a country to borrow abroad in its own currency
- Standard & Poor's cuts Greece's rating by one notch on December 16, to BBB-plus from A-minus,
 
- Moody's cuts Greek debt to A2 from A1 on December 22
 
 
 
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Revision as of 16:03, 5 March 2010

Greece December 2009 -- S&P on December 7 puts the country's A- sovereign rating on negative watch. On Dec 8, Fitch Ratings, which had cut Greece to A- when the government revealed the higher deficit, cuts Greek debt to BBB+ with a negative outlook, the first time in 10 years a ratings agency has put Greece below the A investment grade. - Standard & Poor's cuts Greece's rating by one notch on December 16, to BBB-plus from A-minus, - Moody's cuts Greek debt to A2 from A1 on December 22

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