Greece warned of possible downgrade

Troubles in Greece heightened after Standard & Poor’s put the country’s A-minus credit rating to negative outlook, warning of a possible downgrade.  If the past were to serve as a basis, credit rating downgrade usually follows after a month. ECB President Jean-Claude Trichet also said the country needs to act “courageously” if it is to bring its budget under control.

More from the FT.

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