Additonal on the ONGOING Greek Default….

Fitch Cuts Greek Rating, Says Debt Exchange Equals Default – Forbes

Fitch Cuts Greek Rating, Says Debt Exchange Equals Default

Wednesday’s action from Fitch comes a day after Greece secured a
second package of bailout loans from the so-called Troika – the IMF,
European Commission and ECB – worth €130 billion. The agreement with
private sector bondholders on 53.5% haircuts is crucial to reduce
Greek’s debt burden to a level that is manageable, at least in the short
term, but still awaits creditor approval over the next few weeks.

The deal is not enough to save Greece from a default though, Fitch said Wednesday

More here…

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