In view of the conflict of the Greek government and its creditors, the ratings agency Standard & amp; Poor’s (S & P). Lowered the credit rating of the country to a level
The credit would be reduced from the current “B” to “B-”, said S & P on Friday in London. In addition, S & amp threatens;. P the country shortly with further downgrades (“Credit Watch Negative”)
The note is thus even deeper into the so-called junk area. No other country in the euro zone by S & amp; P so poorly rated. The rating agency Moody ‘s rated Greece still one step worse (“Caa1″) and Fitch a touch better (“B”).
liquidity problems as a reason
Athens would like to cooperate with the . (ECB) end so-called troika of the euro zone, the International Monetary Fund (IMF) and European Central Bank in its present form, the period during which the new Greek government could reach an agreement with its lenders, has, according to S & amp; reduced P justified that. with the liquidity problems of the country.
The ECB had on Wednesday a special tilted and the already ailing Greek banks impedes access to financial resources. Greek government bonds can not be used as collateral for ECB loans, as a . review of our program is no longer possible This ECB decision is expected According to S & P lead to further capital outflows, weaker tax revenues and declining investment These problems loaded already, the Greek economy
Other downgrade possible.
The Greek banks will now receive emergency loans, although the Greek central bank. However, P can be completed in late February by the ECB, if there is no new program
The move by S & amp;; These so-called ELA loans should, according to S &. P is exceptional. The next review stood at only 13 March. Credit rating agencies may change the rating outside of predetermined events only in exceptional circumstances. On March 13, it could then lead to a further downgrade
In Video:. Tsipras desperately seeking allies against the austerity plan
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