Loans and Finance

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Tuesday, March 08, 2011

Moody's Downgrade Greece

Moody's have downgraded Greece's credit rating from B1 from Ba1. This has caused a spike in yields on the country's bonds and will of course add to pressure on the Euro, as the risk of Greek default grows.

Add in the fact that the Irish economy is on the verge of collapse and that the ECB (for reasons that are unclear to any sane person) have raised interest rates, and it is clear that the Euro's days are looking increasingly numbered.

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