Greece S&P Rating Lowered To "Selective Default"

www.bloomberg.com...

Greece’s credit ratings were cut to “Selective Default” by Standard & Poor’s after it negotiated the biggest sovereign debt restructuring in history.

S&P’s decision to downgrade Greece and the list of PSI eligible securities to D, was “pre-announced and all its consequences have been anticipated, planned for and addressed” by the European Council and the Eurogroup, the Greek Finance Ministry said in an e-mailed statement today.

Well, I wasn't forewarned or read any pre-announcement.

The people of Greece have literally done everything that they could to get their government out of the crappy situation that the country has been placed in.

And now they are one-step from a full government default.

I don't get it... it seems like they are tanking Greece on purpose...

To the people of Greece: Take your country back before it is too late!

To the people of America: Take a look at Greece. Get off your asses before it's too late and America is the next country in the default category.

They are definitely tanking Greece on purpose..

Greece became the fall guy for a ton of toxic assets. According to Max Keiser, next will be other smaller EU countries like Portugal..

This selective default is kind of funny - now Greece gets overseers that will tell Greece where and how to spend it's money. Greek bonds are worth only 75% now, Greece is borrowing 130 billion Euros. =|

This is going to end badly - think Greece over the past few months on steroids. Tick Tock.

ETA: A good source of info from wikigreeks: www.wikigreeks.org...

Basically, if they don't put in a different structure its going to suck over there. I hear its already pretty bad, and I believe it due to me watching the riots until the net got cut off.

reply to post by YouAreLiedTo


From studying a conspirology for some time now, I can say, that there's only 2 most effective ways to bring any country down on its knees: it's either by war, or by debt. In Greece it is the second scenario, in Iraq and Libya it was the first one. It is a real shame what American politicians are doing to this world.

Already posted here:

www.abovetopsecret.com...

reply to post by surrealist


My apologies.

Mods, do your duty.

reply to post by YouAreLiedTo

I don't get it... it seems like they are tanking Greece on purpose...

It does appear that way huh? Considering Greece isn't even the worst off in the EU (Ireland is) ... I think it may be an experiment.. how far can the Centralized powers of the EU push a Sovereign nation? And for Germany it's a test.. just how much control do they have over the entire EU?