Saturday Jan 31, 2015 Search
Weather | Athens
16o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Fitch downgrades Greek banks after sovereign cut

Fitch lowered its ratings of Greek banks Friday in the wake of its cut of the country's sovereign rating.

Fitch put the new rating for the National Bank of Greece, Efg Eurobank Ergasias, Alpha Bank, Piraeus Bank and Agricultural Bank of Greece at CCC, down from B-minus, in the mid-level range for «speculative» or junk bonds.

The move came a day after Fitch cut Greece's sovereign rating to CCC, or «vulnerable to default», over the increased risk that the country would be forced to leave the eurozone.

"In the event that the new general elections scheduled for 17 June fail to produce a government with a mandate to continue with the EU-IMF program of fiscal austerity and structural reform, an exit of Greece from (the eurozone) would be probable, and/or this could be followed by a withdrawal of international support to Greek banks,» Fitch said.

"A Greek exit would likely result in widespread default on private sector as well as sovereign euro-denominated obligations."

[AFP]

ekathimerini.com , Friday May 18, 2012 (21:55)  
ECB’s Constancio signals Greek waiver may end if program dropped
Greece starts countdown to cash crunch saying bailout over
How Greece can run out of cash and what ECB’s Draghi can do
Varoufakis to meet French counterpart on Sunday
Tsipras says Greece to repay ECB, IMF, reach deal with euro area
Greek Prime Minister Alexis Tsipras sought to repair relations with the country’s creditors after a week- long selloff in bonds and stocks, triggered by his pledge to end the country’s bailo...
Greece seeks EU allies but Germany holds firm
Greeces radical new government on Saturday began a search for European allies forits anti-austerity agenda, but German Chancellor Angela Merkel once again ruled out debt relief for Athens. P...
Inside News
BASKETBALL
Panathinaikos preserves perfect home record
After yet another great performance at home, Panathinaikos defeated Galatasaray 86-77 in Athens on Friday to get to three wins in five games at the Euroleague top-16. The Greek champion shoo...
SOCCER
Gattuso: Unpaid OFI players couldn´t buy food
Former coach Gennaro Gattuso has lifted the lid on the plight of crisis-club OFI Crete which has been banned from playing in the Super League until it clears mounting debts with its staff. T...
Inside Sports
INTERVIEW
SYRIZA must come up with ‘pragmatic solutions,’ Schulz tells Kathimerini
“SYRIZA must realize that it is now the Greek government, not a party running an election campaign,” European Parliament President Martin Schulz, the first European official to visit Greece ...
COMMENTARY
Strange haste
The members of the new government must have a lot of confidence in themselves. Several days before announcing his program, Prime Minister Alexis Tsipras and his cabinet have opened up a mult...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. ECB’s Constancio signals Greek waiver may end if program dropped
2. Greece starts countdown to cash crunch saying bailout over
3. How Greece can run out of cash and what ECB’s Draghi can do
4. Tsipras says Greece to repay ECB, IMF, reach deal with euro area
5. Varoufakis to meet French counterpart on Sunday
6. No lending to Greek banks if no deal by end of February: ECB´s Liikanen
more news
Today
This Week
1. US to work closely with Greece and EU to resolve differences, says White House
2. Greek bank debt plummets as investors head for the exit
3. Merkel rejects debt writedown for Greece
4. Greek markets plunge as SYRIZA digs in on challenge to austerity
5. Tsipras says Greece to repay ECB, IMF, reach deal with euro area
6. Greece seeks EU allies but Germany holds firm
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. SYRIZA's win will test institutions
5. Greek Elections 2015: The day after | LIVE
6. EU must accept that Greek debt relief is inevitable
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.