It seem's that everyone all of a sudden is paying attention to Greece's financial situation, this after Standard & Poor’s on Dec. 7 put Greece's A- rating on watch for a possible downgrade, and Fitch Ratings cut Greece's rating to BBB+. This means that Greece will have a harder time to borrow money.
The government has stated that the 2009 budget-deficit estimate to be 12.7 percent of gross domestic product after Oct. 4 elections, three times higher than an earlier forecast and more than four times the 3 percent allowed under the European Union’s Stability and Growth Pact.
Greece has gone on the defensive, acknowledging that 2010 may be a difficult year but not an 'impossible' one.
Greece will not go bankrupt.
More news:
To our readers in Melbourne, good news! You now have a new option to get to Greece. Starting this week, a Qatar Airways route connecting Athens and Mebourne, via Doha, was launched. Initially there will be three flights per week, with the goal being a daily flight in the coming months.
posted on Wednesday, December 9