With downgrade less than expected, Greece is given some relief

12/22/2009 | Wall Street Journal, The · Reuters

Moody's Investors Service downgraded its rating on Greece's debt from A1 to A2, which is much less than expected. The move prompted a rally in the country's bond and stock markets and could give the Greek government an opportunity to enact the financial overhaul it has pledged, analysts said. "This gives the government some time," said Nikos Magginas, an economist at National Bank of Greece.

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Wall Street Journal, The · Reuters

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