May 18, 2012, 02.14 PM | Source: Reuters
Fitch Ratings Agency on Thursday downgraded Greece's credit rating to CCC from B-minus, citing the heightened risk that the country might have to leave the euro zone.
Should new elections fail to result in a mandate for a new government to continue austerity measures, a Greek exit from the monetary union would be "probable," Fitch said.
"A Greek exit would likely result in widespread default on private sector as well as sovereign euro-denominated obligations, despite a moderate sovereign debt service burden following the restructuring of Greek government bonds in March," the statement said.
A top Finance Ministry official today deposed befo
Four emerging economies, including India and China
More than 1.8 million dead people are listed as ac
Yahoo Inc and its Asian partners, China's Alibaba
In another blow for beleaguered BlackBerry maker R
Apple Inc is in very active discussions at the boa
HeidelbergCement India has reported a sales turnov
Medi-Caps has reported a sales turnover of Rs 6.77