Credit rating: Moody’s threatens Athens – Reuters

Credit rating: Moody's threatens Athens – Reuters

Yanis Varoufakis

Greek Finance Yanis Varoufakis have to expect a downgrade by Moody’s with his country

(Photo: AP).

London Because of the ongoing debt dispute with its European creditors, the US rating agency Moody’s Greece has threatened another downgrade of its credit rating. There was “considerable uncertainty” about the possible outcome of the ongoing negotiations between Greece and its European partners, said Moody’s on Friday night. The current credit rating of “Caa1″ him under observation, said Moody’s.

If Athens agree in the coming weeks with its lenders, would “significantly increase” the risk of bankruptcy. Currently, the rating agency upgrades Greece’s credit rating with a Caa1 rating to junk level. This makes it even harder to Athens would arrive fresh money

Previously had the rating agency Standard & amp. Poor’s Greece’s credit rating from “B” to “B-” lowered. Finance ministers from the 19 euro countries want on Wednesday advised the day before the EU summit, in a special meeting on Greece.

The most important players in the negotiations with Greece

In Greece penetrates election winner SYRIZA to an easing of the austerity program in the highly indebted euro-crisis country. By the end of February, a new agreement with international donors must be found, for then run the aid flows. SYRIZA leader Alexis Tsipras would prefer to negotiate directly with the creditor countries – the time of the troika of the European Central Bank (ECB), European Commission and the International Monetary Fund (IMF) was over. Who are the main interlocutor?

• The 60-Jährihe regarded as Europeans passion. He was and is one of the key figures in the euro bailout. For eight years (2005-2013) was the President of the Luxembourg Euro Group, composed of the finance ministers of the countries with the euro. In this role, Juncker has been instrumental negotiated the rescue programs for crisis countries such as Greece since 2010. The Christian Social was 18 years (until 2013) Prime Minister in Luxembourg – now he is President of the European Commission

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  The 67-year-old Italian bank managers and economists since November 2011 President of the European Central Bank (ECB). Under his leadership, the Fed was pumping cheap money into the banking system, abolished the interest rates in the euro area and established some quasi purchase program to unlimited necessary to purchase bonds issued by euro-crisis countries. Critics accuse him to have overstretched the powers of the central bank.

• The French politician stands since July 2011. at the head of the International Monetary Fund (IMF). Previously, she was Finance Minister in Paris. 59-year-old lawyer acquired during the financial market and euro turmoil a reputation as a prudent crisis manager. On it, however, charged that the French judiciary is investigating them in a scandal over alleged embezzlement of public funds from her time as Minister.

• German Chancellor Angela Merkel had pressed the start of the dramatic financial crisis in Greece on the brakes. The iron exchange of Merkel and Finance Minister Wolfgang Schäuble: No power unrequited European solidarity against Greek effort. In Athens, Merkel was welcomed during a visit with posters on which she appeared with Hitler’s mustache. After the change of government in Athens, Berlin is open to compromises: An extended utility or repeated credit facilities. Another haircut but is rejected.

• SYRIZA leader Alexis Tsipras insists on relaxing the strict EU savings targets. The most important SYRIZA man in terms of finances for the negotiations with the troika should be an experienced politician Giannis Dragasakis. The 66-year-old is one of the few functionaries of the Left Party, who has experience in government. It was 1989, short-time deputy in a transitional government minister said. A native of Crete politician and economist calls since the outbreak of the financial crisis, the Greek debt was unsustainable. There must be a haircut.

The Greek Finance Minister Yanis Varoufakis had brought about loans into play that the recent rescue packages troika of EU, ECB replace and International Monetary Fund (IMF) and time are to fundamentally rethink the aids. The current utility runs only until the end of February, the new left-wing government in Athens rejects the austerity and reform requirements contained therein but from

No other country in the euro zone by S &. P so poorly rated. The Moody’s rating (“Caa1″) is still one step worse. The worse the credit rating agencies evaluate the creditworthiness of a country, the more difficult can usually get fresh funds in the capital market the country.

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