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Tag Archives: default 2011

CMA-report: Greece tops Debt Risk List 1Q 2011 – Again

Greece  is considered as the world’s most risky to default and tops again the CMA list of Sovereign Debt Risk Report with a 58% chance of a debt restructuring occurring within five years. The London-based CMA released Global Sovereign Credit Risk Report refers to the first Quarter of 2011. On the Top …

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How much austerity can we bear? Greece 2010 deficit at 10% (Reuters)

Save, Save, Save in a barrel with no bottom! Greece’s debt explodes, revenues  are not flowing, new budget deficits sprout every year. The wages and pensions cuts, the V.A.T. and taxes hikes made us poorer by 30-40% in 2010. Now new austerity measures will be added. Then the IMF/EU/ECB- representatives, currently …

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Greek economy? Thanks for asking…

How is Greek economy doing?  Apart from the failure to combat tax evasion, to cut state spending by trimming the  state apparatus and to boost development to escape recession…. thanks for asking! A BBC survey conducted among Euro economists show no good ahead. Two-thirds of the 52 respondents forecast a default! “The …

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(UPD) Athens Stock Exchange plunges a day after Moody’s downgrade

Athens Stock Market suffered the heaviest losses since the beginning of the year and plunged at -3.81% and banks down at 6,26% in the shadow of Moody’s downgrade. Athens Stock Exchange is on a falling course and banks experience massive liquidation a day after rating agency Moody’s downgraded Greece’s credit …

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