Rating agency lowers rating Greece – Parool.nl

28-03-15 1:02 pm – Source: Belga

Archive Photo of a protest in Athens where a protester holds up a sign. “I’m finally out loud. I am Greek and proud with or without the euro. ” © epa

Rating agency Fitch yesterday lowered Greece’s credit rating by two notches to ‘CCC .

“The lack of access to the market, the uncertainty of a fast release (international aid), and the tension in the Greek banking sector put extreme pressure on the financing of the Greek State” explains the rating agency.

Earlier, the country was still evaluating B, now it has fallen to CC, two steps lower. Fitch expects in Greece this year, a growth of 0.5%. In December, the growth forecast was 2.5%.

The Greek government has now a list of economic reforms done, who will present it in Brussels. Today, the parties would sit around the table in the so-called Brussels Group. The Greek government hopes that the reforms will put an end to tensions with the lenders. Athens next month is likely to go bankrupt

(Produced by the editors).