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Jul 25, 2011

GREECE News, Jul 25, 2011


Moody's downgrades Greece to Ca from Caa1
FT Alphaville (blog)
In the first ratings move after Thursday's EFSF debt deal, Moody's has decided to downgradeGreece. London25 July 2011 — Moody's Investors Service has today downgraded Greece's local- and foreign-currency bond ratings to Ca from Caa1 and has ...
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GRAHAM BELL: Argentina model for default may tempt Greece
Business Day
A DECADE ago a slow-motion crash was unfolding in Argentina which has echoes in Greece and other euro-zone peripherals today. After hyperinflation in 1990, Argentinian economy minister Domingo Cavallo (literally translated as "Sunday Horse"), ...
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S&P 500 Profit Pain Ends in Greece as Europe Revenue Drops to 21% of Total
Bloomberg
September futures on the S&P 500 retreated 0.9 percent to 1329.40 at 8 am in Tokyo today as President Barack Obama and Congress failed to reach an agreement on raising the federal debt limit, intensifying concern the nation will default. ...
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THE OUTLOOK: Turkey's Lessons For Greece On Fixing Fiscal Mess
Wall Street Journal
Greece posted growth rates between 3% and 5% since the early-1990s, a period in which Turkey suffered bouts of surging inflation and booms followed by bust. Greece's GDP per capita today is close to three times as high as Turkey's. ...
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Greece Credit Rating Cut Three Levels by Moody's
Bloomberg
Greece's long-term foreign currency debt was downgraded to Ca from Caa1, the ratings company said in a statement in London today. Moody's assigned a developing outlook to the ratings and said it will re-assess the credit risk profile of any outstanding ...
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Greece through the rear-view mirror
Journal of Turkish Weekly
Such a rating would complicate Greece's access to ECB financing without ensuring that Greece will emerge from default with a sustainable debt burden. The situation confronting Greece today is similar to Argentina's situation in the summer of 2001. ...
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European Stock Futures Drop on U.S. Deficit Stalemate; Banks May Be Active
Bloomberg
Lenders including National Bank of Greece SA (ETE) and Alpha Bank SA may move today after Moody's downgraded Greece by three steps to Ca from Caa1 saying the European Union's financing package for the debt-laden nation implies “substantial economic ...
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How To Read Today's Euro Rally
Benzinga
Today's rally was precipitated by the details of today's meeting being leaked, which showed a greatly expanded EFSF. The final terms were private creditors taking a haircut, a 160 billion euro package for Greece, lowering the interest rate on the loan ...
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Italy Is Venal, But It's Not Greece
Newsweek
Foreigners account for 7 percent of the population today, a huge change from the 1 percent of only 20 years ago, and although Italians grumble a good deal about the alien invasion, they have supplied needed labor on southern farms, ...
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Wall Street Freak Out?
Daily Beast
Asian markets dropped one percent last night, and overnight futures markets indicate a similar hit in the US today—on what should be a positive day, given the good news coming out of Greece. Gold has started to spike, a sure sign of a “fear trade. ...
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Daily Beast
USA Today Greece bailout: What 'selective bond default' means
USA Today Greece bailout: What 'selective bond default' means.
www.orkutpet.com.br/.../USA-Today-Greece-bailout-What-sel...
Greece cruise Disruptions today(from Oceania board) - Cruise ...
Greece cruise Disruptions today(from Oceania board) Seabourn Cruise Line.
boards.cruisecritic.com/showthread.php?p=29905292

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