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Moody's cuts Greece government ratings to junk
Reuters ^ | 6/14/10 | Ciara Linnane

Posted on 06/14/2010 10:45:38 AM PDT by Kartographer

Moody's Investors Service on Monday downgraded Greece government bond ratings into junk territory, citing the risks in the euro zone/IMF rescue package for the debt-laden country.

The agency downgraded the rating by four notches to Ba1, placing it one notch into junk status. The outlook is stable.

Moody's also downgraded Greece's short-term issuer rating to not-prime from Prime-1.

(Excerpt) Read more at reuters.com ...


TOPICS: Breaking News; Business/Economy; Foreign Affairs
KEYWORDS: bonds; greece; junk; moodys; piigs
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The dominoes should start falling soon now

1 posted on 06/14/2010 10:45:38 AM PDT by Kartographer
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To: Kartographer

Here we go....


2 posted on 06/14/2010 10:47:44 AM PDT by anniegetyourgun
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To: Kartographer

DIVE....DIVe..DIve....Dive...............


3 posted on 06/14/2010 10:47:46 AM PDT by blueyon (The U. S. Constitution - read it and weep)
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To: Kartographer
The agency downgraded the rating by four notches to Ba1, placing it one notch into junk status. The outlook is stable.

Of course - stable junk! Who's next - Spain?

4 posted on 06/14/2010 10:47:48 AM PDT by Rummyfan (Iraq: it's not about Iraq anymore, it's about the USA!)
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To: Kartographer

so, what now?


5 posted on 06/14/2010 10:47:59 AM PDT by MNDude
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To: Kartographer

That is going to leave a mark.


6 posted on 06/14/2010 10:48:08 AM PDT by A Balrog of Morgoth (QMC(SW) USN........ CG21 DD988 FFG34 PC6 ARS53)
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To: Kartographer; CRBDeuce

7 posted on 06/14/2010 10:48:12 AM PDT by RetroSexual
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To: Kartographer

The horse has been out of the barn for quite some time. And they’ve now decided to close the door?


8 posted on 06/14/2010 10:49:18 AM PDT by meyer (Big government is the enemy of freedom.)
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To: blam

FYI


9 posted on 06/14/2010 10:50:10 AM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: Kartographer

All of Eastern Europe is going to be going thru times that make America even now look like one Big New Years Eve blowout. Serbia, Ukraine, Bulgaria, Romania, all of them are going to go under very bad it seems. Heart wrenching, as these nations full of honorable and God loving good people have suffered mnore than enough for several lifetimes. They have hapless, quasi socialist govt’s and it seems like too many people there are breaking from their genuine Christian roots-I sure hope and pray I am wrong about this- and that is making it worse. At soem point they will say enough; after suffering Communism to various degrees and colonialism from Turks (Bulgariam, Serbia), Germans (Serbia) and Russians (Ukraine) I imagine there is not much more they will tolerate.


10 posted on 06/14/2010 10:52:23 AM PDT by emax
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To: meyer

Even Moody’s doesn’t seem to understand that we aren’t simply “in a cycle.”


11 posted on 06/14/2010 10:52:40 AM PDT by anniegetyourgun
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To: emax

You’re absolutely right.


12 posted on 06/14/2010 10:53:45 AM PDT by unkus
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To: blam

What’s your take on this? Is it as dire as it sounds?


13 posted on 06/14/2010 10:56:51 AM PDT by hennie pennie
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To: Rummyfan
Correct answer!

http://www.freerepublic.com/focus/f-news/2534276/posts

14 posted on 06/14/2010 11:07:56 AM PDT by mojito
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To: anniegetyourgun
Here we go....

Wish I had a dollar for every time someone posted that here at FR, I'd be rich.

If the DOW drops by more than 50 points it's a sure bet someone will post this sentiment.

15 posted on 06/14/2010 11:11:41 AM PDT by softwarecreator (I want my greenshoots!)
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To: softwarecreator

You’re right...the destruction began on 11/4/08.


16 posted on 06/14/2010 11:13:00 AM PDT by anniegetyourgun
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To: anniegetyourgun
Even Moody’s doesn’t seem to understand that we aren’t simply “in a cycle.”

I think that they understand. They're just participating in the psychological game of "getting people to spend money". In other words, their goal was to make the people think that everything is OK and it's acceptable to carry on as usual. Kind of like our government telling everybody to go out and spend post-9/11.

17 posted on 06/14/2010 11:13:41 AM PDT by meyer (Big government is the enemy of freedom.)
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To: Kartographer

Closing the barn door after the horses are out.


18 posted on 06/14/2010 11:16:50 AM PDT by Pessimist
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To: meyer

After 9/11 we were in a normal biz cycle (for a nation that had it’s economic center hit by terrorism)...things bounced back. After 11/4/08, all things changed - nothing is the same.


19 posted on 06/14/2010 11:16:53 AM PDT by anniegetyourgun
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To: meyer

See post 18.

Great minds, and all that. :)


20 posted on 06/14/2010 11:17:37 AM PDT by Pessimist
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