Greek Debt Rating Cut To Lowest In World !

The Greek government's efforts to pull its economy out of crisis have been dealt a massive blow as its debt rating has been slashed.

So what now for Greece ?

And what does this mean for the rest of us ?

Whatever this means, its certainly not good news

Link to article

Here is some video on the new crisis....

uk.news.yahoo.com...=%252Fvideo%252Fskywor ldnews-14898227%252Fsouth-sudan-vaccination-programme-25587370.html" target="_blank" class="postlink">uk.news.yahoo.com... lowest-in-world-25594416.html#crsl=%252Fvideo%252Fskyworldnews-14898227%252Fsouth-sudan-vaccination-programme-25587370.html

Originally posted by solargeddon

The Greek government's efforts to pull its economy out of crisis have been dealt a massive blow as its debt rating has been slashed.

So what now for Greece ?

And what does this mean for the rest of us ?

Whatever this means, its certainly not good news

Link to article

Every country is under water. We are all in the deep end seeing who drounds first

I don't know what happens when a country goes bust but I wonder if they will combine their nation with another or something along those lines.

interesting to see what happens

Same story...


www.cnbc.com...

Originally posted by solargeddon
Greek Debt Rating Now the lowest in the World !

Just to be a bit pedantic, this headline is a bit misleading.

Its the worst in the world ONLY of the countries that this one particular agency rate, and they dont rate them all.
Only about half the countries in the world have a S&P rating.
Lots of those small sh*&^&^ third world countries, they dont bother with.

Edit - if people are curious to see how other countries are rated, here is the S&P ratings page...
link

Rather surprised to see the USA still rates AAA
You wouldnt think it so, after reading a lot of "end of civilisation" threads on ATS.

Originally posted by alfa1

Originally posted by solargeddon
Greek Debt Rating Now the lowest in the World !

Just to be a bit pedantic, this headline is a bit misleading.

Its the worst in the world ONLY of the countries that this one particular agency rate, and they dont rate them all.
Only about half the countries in the world have a S&P rating.
Lots of those small sh*&^&^ third world countries, they dont bother with.

Ah sorry I was going to use the original title, but thought I would not entirely plagerise, but I shall change it to the actual title

Thanks for the link, I see we in the UK are still AAA, but then thats because they have spanked the life out of us lol !
Anyone can they teach me how to spell plagerise ?

reply to post by kro32


Take a gander at what happened to the Egyptians when they defaulted after cotton prices plummeted when the US Civil War ended:
Wikipedia

Basically, Egypt was a colony of Great Britain all in but name.

Given that Obama and the Merkel had a closed meeting and after so many weeks that germany was dragging its feet within europe we suddenly had germany announcing that it will back greece no matter what. Reports coming in from greece indicating that an over ordinary amount of u.s. tourists are heading to greece this summer flooding the nation with dollars, combine that with how much money is flowing in from nato to use its bases with the ongoing conflict of n.africa shows how well everything has been planed right down the cent and at what rate the euro will be trading against the dollar. Seems to me that both the U.S. and E.U. shook hands and decided its in their best interest to combine and fight the Asian market. Greece's internal prices have dropped thus making it ripe for value per dollar as only three years ago athens was rated as one of the most expensive citys to visit right up there with paris and the london. Nice to see the boys over at the CFR are actually working for a change.

whats even more funny is that minister for finance of greece was amongst the few to be invited to that good old family group bbq over at switzerland, yep you guessed it, the bilderberg's yearly bbq meeting, fun fun fun

as i posted above, hands were shaken and agreements were made, i guess this should pop up somewhere else on the site as breaking news. oops seemz likez i haz the right pplz in the right placez

Germany Recognizes Libyan Rebel Government

The announcement by Mr. Westerwelle comes after weeks of hesitation by Germany over which rebel leaders or movements, if any, it would recognize as an alternative to the government of Col. Muammar el-Qaddafi.

“The Transitional Council is the legitimate representation of the Libyan people,” Mr. Westerwelle said after arriving in Benghazi. “With this council, we want to support the building of a democratic and law-abiding Libya.”

Germany will open a small mission in Benghazi, joining the United States, the European Union, the United Nations, Britain, France, Spain, Malta and Qatar, which have established a presence in Benghazi in the past several weeks. Washington, however, has not extended diplomatic recognition to the council.

www.nytimes.com...