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Greek credit-rating tragedy

Published 04/10/2011

Just when you thought things couldn’t get any worse for Greece, along comes a new rating from Moody’s for its faltering banks.

The credit-rating agency downgraded the ratings of the main Greek banks by a further two notches.

It cited increased risks of losses on their holdings of Greek debt.

Moody's Investors Service also warned of an increased prospect that the Greek economy will worsen.

Belfast Telegraph

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