Moody’s slashes Greek rating, may cut further

Moody's Investors Service on Monday slashed its Greek credit ratings by three notches from Ba1 to B1 and warned that they could be downgraded...

Germany’s Feld Says Greece Should Extend Debt

Germany could agree to an extension of the repayment of European Union loans to Greece provided private creditors also agree to an extension, Lars...

Greece To Sell EUR1,250mn T-Bills

The Greek government will auction 26-Week Treasury Bills on March 8 in book entry form, with maturity 9 September 2011, according to an announcement. Public...

Merkel Pulls Brake on Hopes of Lowering Greek Aid Cost

Chancellor Angela Merkel told German parliamentary leaders that it was unlikely she’d agree to cut interest rates on rescue loans to Ireland and Greece,...

Fitch: Greece’s Ratings Could Fall Sharply

Fitch Ratings said that Greece’s ratings could fall sharply if the country fails to regain access to the capital market at affordable rates by...

S&P Keeps Greece On Negative Creditwatch

Standard & Poor΄s Ratings Services said it keeps Greece and Portugal on watch for possible credit downgrades, underscoring the continuing difficulties facing fiscally strapped...

Regional Development & Competitiveness Ministers Announces New Growth Model

Regional Development and Competitiveness Minister Mihalis Chryssohoidis, speaking Monday at an event by the ISTAME foundation, referred to the plan regarding the country's new...

Hellenic Telecom Cuts Overtime & Allowances to Trim Costs

Hellenic Telecommunications Organization SA, Greece’s biggest phone company, will cut overtime and allowances for managers, to save 32 million euros as profit and...

Greek Inflation Decelerates as Price of Clothes Drops

Greek inflation, as measured by the harmonized index of consumer prices, eased to 4.9% in January from 5.2% in December, the Hellenic Statistical Authority...

Greek Coke bottler sold 300 mln eur bond to repay debt

Coca-Cola (NYSE:KO) second-largest bottler, Coca-Cola Hellenic (HLBr.AT), announced Monday it has issued a $412.9 million bond for the purpose of refinancing maturing debt. Athens-based CCH...

Libya Owes More Than USD 700mn To Greek Companies

Despite Muammar Gaddafi’s enormous private property, Libya owes more than USD 700mn to Greek companies that have been operating in the Northern African country....

Minister: Greek Economy to Shrink by Another 3 Percent in 2011

The Greek economy is expected to shrink by a further 3 per cent this year, Finance Minister Giorgos Papakonstantinou said Thursday, nevertheless pledging to...

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