Anonymous Coward
User ID: 954634
 Canada
04/27/2010 02:21 PM
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Report Copyright Violation | Portugal debt too was downgraded... Mounting fears that the debt crisis in Europe is spiralling out of control
LONDON - Europe's government debt crisis worsened ominously Tuesday when two financially troubled countries — Greece and Portugal — saw their credit ratings downgraded as markets sold off their debt. Stocks slid on the news. Greece was downgraded to junk status by Standard & Poor's, which lowered Portugal's rating as well. The downgrades come as Greece is appealing for 45 billion euros in bailout loans from other eurozone governments and the International Monetary Fund.
A debt downgrade immediately preceded Greece's call for help last week. While Portugal has less debt, economists have focused on it as the next possible victim if concerns over high levels of government debt in Europe spread. [ link to www.msnbc.msn.com] The second pig gets eaten by the wolf. |
