Monday , July 22 2024
Home / News / Economy / S&P Lifts Greece Out of “Default” Status and Warns of Upredictable Voters in Anti-Austerity Mood

S&P Lifts Greece Out of “Default” Status and Warns of Upredictable Voters in Anti-Austerity Mood

Finally a good news. Rating agency Standard & Poor’s upgraded Greece’s status. We, Greeks,  not anymore on ‘high risk of deault’ although we are warned about our voting behaviour and possible anger against austerity. Then this would throw us into deeper recession and that would not match to S&P desires. Talking about a rating agency intervenening in the democratic process of a country? Tsk Tsk Tsk….

S&P raises Greek rating, lifting it out of default

Standard & Poor’s raised Greece’s credit rating out of default territory on Wednesday, as expected after Athens slashed its debt by about a third by completing the biggest sovereign debt restructuring in financial history.

But the firm kept Greece firmly in the junk category with a CCC rating and warned that a deep recession, unpredictable elections on May 6 and popular anger against austerity could threaten Athens’ efforts to put its finances back on track.

“While the exchange has, in our view, alleviated near-term funding pressures, Greece’s sovereign debt burden remains high,” S&P said in a statement, adding that it expected the debt to stay as high as 160-170 percent of GDP in the next three years. (Further Reading REUTERS)

Finally, “the sacrifices of Greek people were awarded” as our esteemed politicians would say…Uffff! And that short before the elections lol Or just because of the elections….

Check Also

Hellenic Train claims €40mn compensation from Greek state

The Hellenic Train, the private company operating passengers and freight trains across Greece, claims 40 …

7 comments

  1. They have the audacity to warn us about our voting behavior??????? Is this a threat???? KTG, shall we start sending these *&*()&$^ some pictures of what the situation is like here? Oh and the report on how many have committed suicide too??? It seems that common sense is none existant!

  2. They only say what will serve themselves for their own benefit

  3. Fear the New Yorkers, even if they bring gifts!