Greece: Credit rating slash spooks stocks

Ratings agency Fitch slashed its rating on Greek debt to BBB, marking the country's first non-A grade rating in a decade, hammering Greek stocks and bonds.

"Scares about government default" are the world economy's "next big problem" as The Economist pointed out. Dubai was back in the spotlight this week. And Fitch slashed its rating on Greek debt to BBB, marking the first non-A grade rating for Greece in a decade. This hammered Greek stocks and bonds, with the spread of Greek ten-year paper over its safe German equivalent jumping to its highest level since the market crisis in the spring.

What the commentators said

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.