Tuesday, April 27, 2010

Greece Cut to Junk at S&P as Contagion Spreads

Some more news updates on Greece.

Greece brings the value of euro down by being the first euro member to lose its investment grade. The article suggests the EU member-state leaders may have to hold an emergency summit after the Greek government’s decision last week to tap a 45 billion- euro ($60 billion) emergency-aid package failed to reassure investors. As of today, Greece’s bonds have been lowered to the point where they are at the same level as the bonds issues by Azerbaijan and Egypt.

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