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Moody's: Greece out of the euro currency threatens the existence of
Saturday 09 June 2012

- Moody's Investors Service said in a statement that Greece out of the euro could threaten the existence of the currency itself. Moody's said on Friday that the developments in the banking system to Spain, which may require a European rescue package negative repercussions on the sovereign rating for Madrid The credit ratings agency, "If you leave Greece euro currency, threatening the continuation of it we will have to review each sovereign ratings for the euro zone, including those countries with the highest ratings." Moody's said that Greece out of the euro area in particular will affect the sovereign ratings of Cyprus, Portugal, Ireland, Italy and Spain. Said Yves Omay sovereign rating analyst with Moody's in London, told Reuters: "Some members (others) with the European Union may also be affected because of the financial and commercial relations between the members of the document the monetary union and the EU." And the Greeks return to the ballot boxes on June 17 for the selection of members of parliament after an inconclusive election in the sixth of May. If you voted for the socialist parties that refuse Terms bailout worth 130 billion euros has lead to the withdrawal of Greece from the euro zone. Moody's said that in the case of an agreement between any Greek government and its creditors to come to international rankings, the euro area in general will stabilize at current levels. Greece holds a ‭ C ‬ rated by Moody's, while classified by Standard & Poor's and Fitch at ‭ CCC ‬.

 

 

 

 

 
 
 
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