Greek Prime Minister George Papandreou on Monday called an unexpected referendum on a new EU bailout deal for his debt-ridden country, a move that could prompt snap elections if a public angry with austerity rejects the terms.
Fitch cut Greece's credit rating by three notches on Friday, pushing it deeper into junk territory, and warned of more downgrades if the EU and the IMF do not produce a credible plan for the debt-ridden country.