Greece downgraded over high debt

Greece saw its credit ratings downgraded on the 8 December 2009 because of the poor state of the country’s public finances.

Fitch Ratings cut Greece’s credit ratings to BBB plus with a negative outlook, a day after rival ratings agency Standard & Poor’s threatened Athens with a downgrade.

It is the first time in 10 years that one of the three leading ratings agencies has lowered Greece below the A grade category.

Deutsche Welle, 10.12.09: EU leaders reach for climate agreement in Copenhagen http://www.dw-world.de/dw/article/0,,5000371,00.html

ESO: Background information: Greece warned about credit rating risk http://www.europeansources.info/record/greece-warned-about-credit-rating-risk/

BBC News, 8.12.09: Greek stocks fall 6% on fears over the country's debt http://news.bbc.co.uk/1/hi/business/8402406.stm

EurActiv, 10.12.09: Crisis-hit Greece scrambles for measures http://www.euractiv.com/euro-finance/crisis-hit-greece-scrambles-meas-news-223148

BBC News, 10.12.09: Greeks fear times will get tougher http://news.bbc.co.uk/1/hi/world/europe/8404861.stm

Deutsche Welle, 9.12.09: Greece told it won't get help from EU http://www.dw-world.de/dw/article/0,,4998534,00.html

Kathimerini, 9.12.09: What is PASOK waiting for? http://www.ekathimerini.com/4dcgi/_w_articles_columns_100016_09/12/2009_113155

European Commission: MEMO/09/541: Statement by Commissioner Commissioner Almunia on Greece http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/541&format=HTML&aged=0&language=EN&guiLanguage=en

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