Wednesday September 24, 2014 Search
Weather | Athens
33o C
20o 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)  
Task Force highlights the problems SMEs face
Concern over 329-mln-euro shortfall in state revenues
Rise in tourism arrivals dwarfs gains of regional rivals
OPAP set to be first past the post in race for betting permit
SYRIZA-affiliated Attica governor blocks employee evaluation
Newly installed Attica Governor Rena Dourou is on a collision course with the government after she won a vote on Tuesday calling for the regional authority not to cooperate with the evaluati...
DNA link to three suspects sought for Distomo raid
The fingerprints and DNA of three suspects being sought in connection with an audacious bank robbery in Distomo, in the prefecture of Viotia, in August have been found in an apartment in Nea...
Inside News
TRACK & FIELD
Inside the minds of four Spartathletes
Think you could run 246 kilometers on just figs, olives and dried meat? Well, Greek-American ultra-marathoner Dean Karnazes will attempt to do just that in this weekend’s Spartathlon race fr...
SOCCER
Santos appointed Portugal manager
Fernando Santos, who led Greece to the last 16 of the World Cup in Brazil, has been appointed Portugal's new head coach, the FPF announced on Tuesday. "Fernando Santos, 59, is the new nation...
Inside Sports
COMMENTARY
A painful curse
It was a curse and a painful one at that. It was a brutal act that brings shame on the person who committed it, on the party which he represents, on the Parliament, on Greece and on everythi...
EDITORIAL
Europe’s choice
Tuesday’s meeting between Greek Prime Minister Antonis Samaras and German Chancellor Angela Merkel in Berlin is of crucial importance. It’s hard to deny that Greece has come a long way. The ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Task Force highlights the problems SMEs face
2. Concern over 329-mln-euro shortfall in state revenues
3. Rise in tourism arrivals dwarfs gains of regional rivals
4. OPAP set to be first past the post in race for betting permit
5. Gov’t moves unilaterally on tax easing
6. SYRIZA-affiliated Attica governor blocks employee evaluation
more news
Today
This Week
1. Venizelos meets American Jewish officials in New York
2. Trolley bus, metro services to be disrupted Tuesday, Wednesday
3. Greek yields hit one-month high as Samaras looks to exit bailout
4. German bond gains push 10-Year yield below 1% on stimulus bets
5. Construction material costs for new residential buildings decrease
6. Supreme Court postpones decision on Finance Ministry cleaning staff
Today
This Week
1. ‘Greece can meet its needs on its own’
2. Greece at bottom of social justice scale among EU28
3. Record sum of new debts to the state in August
4. Alexander the Great's tomb not at Amphipolis, says Culture Minister
5. Lessons not learned
6. Loud patriotism
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.