Greece put on watch for a downgrade via ForexLive

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S&P has placed Greece on creditwatch negative.

That means a 50% likelihood of a downgrade the ‘B' sovereign rating will be cut in the next 3 month. They say if the new government fails to strike an agreement with the Troika to financial support, it would weaken the country's credit positions.

The thing is, there are reports that a secret Greek deal is already done.

S&P also noted the recent accelerated pace of deposit withdrawals from Greek banks as a credit concern. On the new government, they said that some of the budget policies advocated for by Syriza are incompatible with the current policy framework and the framework of bailout deals.

posted via ForexLive

Posted In: ForexGlobalEconomics
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