Greek Credit Downgraded Even With Bailout

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posted on Feb, 22 2012 @ 10:38 PM
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The Fitch financial services company is again downgrading the credit rating of Greece, saying that the debt-ridden country is "highly likely" to default on its financial obligations even after securing a new bailout from its European neighbors.

Fitch said Wednesday it has cut Greece two notches (from CCC to C), pushing the credit standing for the Athens government deeper into junk status. The ratings company took the action after Greece earlier this week secured a new $172 billion international bailout and negotiated a $142 billion writeoff of the debt it owes large financial institutions.

While Greece has reached a general agreement on elimination of more than half the debt its owes private creditors, it must now negotiate the specific terms of the writedown with individual banks and other investors. Greek officials say that when about two-thirds of its lenders agree to cut the amount the are owed, they will impose the same debt reduction involuntarily on its remaining lenders.


Excerpt source: Greek Credit Downgraded Even With Bailout

Further reading:

Investors nervous as Fitch downgrades Greece credit rating Wednesday

Elites Blow Up Greece on Purpose?

Fitch Downgrades Greece: 'Default is Highly Likely in the Near Term'

The global bankster elite have been setting up Greece for fiscal ruin and unbreakable debt slavery from the very beginning, in association with the complicit globalist Greek government. Now ruling Greece, lock, stock and barrel by their technocratic sock puppet Lucas Papademos, it's time to inflict another bout of painful austerity on the entitlement sheeple...owwwwww!

The credit rating has been sharply downgraded to a C. When push comes to shove, as in from C to D, expect the total failure of the Eurozone in Greece, and a possible reversion to the pre-Euro currency, the Drachma.

That may be a good idea in theory, but it is a bad idea in practice.

Why?

The drachma has been already devalued to the point Greece cannot repay its debts and reinvigorate its hollowed out shell of the economy.

The rational decision may be to expel Greece from the Eurozone altogether...

Expel Greece – a cure worse than the disease

...or so it seems.

What is your take on the Greek credit rating downgrade and the overall austerity measures?





posted on Feb, 22 2012 @ 11:20 PM
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bailouts basically mean your defaulting and need further credit

they dont help your credit rating at all, its obvious their credit rating would drop from having a bailout, its like taking a big loan when u havnt paid back your last 5 loans/bailouts



posted on Feb, 22 2012 @ 11:23 PM
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Who ever is approving and requesting bailouts should be arrested for fraud and theft.
Its obvious Greece will never pay anything back, the money ISNT going to the people its ending up in someones bank accounts.

They are effectively blackmailing europe into giving them endless cash to make them rich.. while Greece and the people sit in the middle and slowly lose everything.

Hang them all.. and never look back.



posted on Feb, 22 2012 @ 11:46 PM
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Credit downgrade was inevitable.
Austerity measures are pointless and harmful to the Greek people.

The bailout is but a 'finger in the dam" and will just indebt Greece more.They wont even be able to pay the interest.
The next default is unavoidable.Greece is this far from bankruptcy (..).
All the plan of the "Banking Elite".
Once Greece is bust these Assholes will go in with the liquidators ,pillage anything of worth, leave it in financial ruin ,impose draconian measures,create debt slaves, and move on to the next country (probably Spain) and do it all over again on the next nation.

The best thing and possibly the only thing IMO that Greece can do is default on everything ASAP, show the finger to the Elite, their cronies and the EU and to all austerity measures, start printing their own currency again, batton down the hatches for some difficult times and start over again.
At least they will be able to start again debt free.
To stay in the EU and live under unpayable debt will destroy the heart and soul of this great nation.

This is a warning to other EU nations.. this is the "setting an example".
This is just the start of the "Bankruptcy of Nations" in the NWO plan to enslave nations to debt and transfer governmental control to the Elitists and their cronies.
It is a well orchestrated plan that started financially in 1913 ,and we are seeing the start of the "finale" so to speak.

This is the only outcome that is possible under this monetary system that we have been forced to use.
Over time every nation on earth will go the way of Greece.
Bankrupt and eternally indebted slaves .
It is inevitable.
V

Peace



posted on Feb, 23 2012 @ 12:03 AM
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Capitalism is not being allowed to work...
...Greece should be bankrupted and the creditors take the haircut.



posted on Feb, 23 2012 @ 12:57 AM
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reply to post by troubleshooter
 

Capitalism is not the problem, neither is socialism ,communism or any of them.
Monetaryism with usary is the problem,and the "only" outcome is debt, this "always is and always will be" its inevitable outcome...

There are many articles on this, heres a couple....read and prepare..

papermoneycollapse.com...
dailyreckoning.com...
www.rapidtrends.com...
zeitgeistmovie.com... ........recommend watching these very much..

IMO its time to try something new, otherwise the cycle will just repeat...and repeat..and repeat....

V





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