Moody’s Downgraded Greece To Junk

June 15th, 2010

Moody’s has once again downgraded Greece’s credit rating – this time to Junk status. This is a huge move and could really sway the markets over the next couple of weeks. I’m almost certain that more downgrades will be coming especially for Spain and Portugal.

Moody’s slashed Greece‘s rating by four notches (unheard of move) citing “macroeconomic and implementation risks” and really persistent doubts about Greece’s ability to repay its massive government debt.

I say again AMERICA, we must learn from this and make the hard changes now!

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Moody’s Downgraded Greece To Junk