Moody's downgrades Cypriot bonds due to deteriorating banking sector
Moody’s Investors Service downgraded Cyprus’s bond rating to B3 from Ba3 and assigned a negative outlook.
“The profound difficulties in the Cypriot banking sector, which are the result of deteriorating conditions in Greece and Cyprus, are the key driver” for the decision, Moody’s said in a statement today.
To maintain “appropriate” domestic bank-capital levels, the Cypriot government will probably have to give the banks financial support “that could threaten the sustainability of the government’s debt burden,” Moody’s said in the statement.
IMF chief Christine Lagarde says a Paris court has named her as a key witness in an investigation into a controversial payoff to an outspoken businessman arranged while she was Frances finan...
Ex-Education Minister Anna Diamantopoulou became on Friday the latest member of the PASOK cabinet serving when Greece signed its bailout deal with the troika in May 2010 to make plans to cre...
PAOK recovered some of the ground lost in the Super League playoffs by beating fellow Champions League-spot contender Asteras 2-1 at Tripoli on Wednesday, while PAS Giannina and Atromitos sh...
The league that in the last three years has produced the European basketball champion entered its playoffs on Tuesday and Wednesday with the first games of the quarterfinal round, with AGO R...
The dramatic appeal for a national mobilization in the face of a heightened threat of devastating forest fires this summer, which Public Order Minister Nikos Dendias voiced in Parliament on ...
The danger of wildfires breaking out across the country in the summer period is just as high this year just as it has been every other year before.
But, the tools and infrastructure availabl...
