综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Global Biz

Greek default would hit others in euro zone

(Agencies)
Updated: 2011-05-24 15:35
Large Medium Small

ATHENS - A Greek debt default would hurt other peripheral euro zone states, Moody's said in a statement on Tuesday, becoming the last of the three major rating agencies to say any kind of restructuring would constitute default.

"Moody's believes that a default is likely to have adverse credit rating implications for Greece, possibly some other stressed European sovereigns, and the Greek banks, regardless of the efforts made to achieve an 'orderly' outcome," it said in a statement.

Related readings:
Greek default would hit others in euro zone Greece discusses fiscal plan, lenders' pressure up
Greek default would hit others in euro zone Greece braces for new general strike

Markets piled pressure on heavily indebted euro zone countries at the start of the week as investors worried not just about Greece but also about heightened risks in Spain, where the government was drubbed in regional elections, and ratings agencies' warnings for Italy and Belgium.

S&P cut its outlook to "negative" from "stable" on Italy, which has the euro zone's biggest debt pile in absolute terms, and Fitch said it may downgrade Belgium's AA+ credit rating. The country has not had a proper government since elections last June but is enjoying an economic boom.

Greek default would hit others in euro zone

"As for other stressed European sovereigns, Moody's believes that their ratings will invariably be affected, regardless of the myriad forms that a default by Greece could take," the statement said.

"This would in turn lead to increasingly polarised sovereign ratings in Europe, with stronger countries retaining high or very high ratings, and weaker countries struggling to remain in investment grade."

Greece announced on Monday six billion euros worth of new, emergency fiscal measures to shrink its budget hole and jump start privatisations to convince lenders it can pay down debt without a restructuring.

Finance Minister George Papaconstantinou said Greece would not be able to honor its obligations if it does not get the next tranche of a bailout loan and the IMF has made clear it cannot disburse the money if Greece's 2012 EU funding is not assured.

Moody's said a Greek default might take many forms, including changes in the terms and conditions or a selective reprofiling, adding that it would consider all of these as distressed exchanges.

The statement also said the Greek banking sector would need recapitalisation in case of a sovereign default, as well as continued liquidity support from the European Central Bank. It warned that a sovereign default was likely to be accompanied by some form of default on bank debt.

Fitch cut Greece's credit rating by three notches on Friday, pushing the country deeper into junk territory, and warned that any kind of debt restructuring would amount to default.

"The longer the current state of uncertainty affecting Greece persists, the greater the temptation on the part of both the Greek and the euro area authorities to try to undertake some form of debt restructuring," Moody's said.

分享按鈕
广河县| 贺兰县| 开化县| 怀仁县| 玉环县| 平潭县| 洮南市| 扶余县| 阳东县| 体育| 龙陵县| 安平县| 兴文县| 滦南县| 绍兴县| 宁都县| 绥中县| 安图县| 扎赉特旗| 正蓝旗| 塘沽区| 嵩明县| 合江县| 分宜县| 卓尼县| 松江区| 都江堰市| 隆林| 连城县| 茌平县| 广东省| 沙雅县| 沛县| 资溪县| 丹寨县| 河东区| 富宁县| 辉县市| 河北省| 民权县| 隆尧县|