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S&P puts Greece in selective default, Athens says the move was expected

February 28, 2012

Greece said the downgrade won’t hurt the banking industry. ECB suspended the eligibility of Greek bonds as collateral. EU cancels Friday Euro summit meant to tackle firewall. Rating agency Standard & Poor’s has classified Greek debt as in “selective default” following the deal it made with creditors to reduce its debts, the BBC informs. Separately, the European [...]

The text of this article has been partially taken from the publication:
http://www.nineoclock.ro/sp-puts-greece-in-selective-default-athens-says-the-move-was-expected/
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