Saturday, January 22, 2011

Fitch Gives Greece Thumbs Up

Associated Press/New York Times
January 21, 2011

Fitch Ratings gave cautionary approval to Greece's progress in getting its debt under control, saying the country has "far exceeded admittedly low expectations" by implementing a series of budget cuts, tax increases and reforms.

The ratings agency cautioned the country could face another downgrade if its economy doesn't start growing again this year.

Fitch said Greece remains the biggest problem in the 17 country eurozone and that it will probably need another loan in the next couple of years to help it get back on track.


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