9
December
Greece put on standby for debt downgrade
9 December 2009 The Telegraph
The agency placed the country on credit watch negative, meaning it is likely to lose its A- rating within months. The country already has the lowest credit rating in the eurozone, but has come under greater scrutiny amid fears that its newly-elected government may avoid imposing significant cuts on the public finances.
The news, which coincided with a separate warning from Jean-Claude Trichet, European Central Bank president, pushed interest rates on Greek bonds to their highest levels in seven months.
