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Jun
02
2011

Moody's Downgrades Greece To Caa1 From B1, Negative Outlook

02 June 2011

Moody’s downgraded Greece’s debt rating by more then three notches and said their risk of default is around 50%. The ECB and IMF are said to be in discussions with Greece and investors on rolling their current debt obligations. The EUR/USD has dropped from recent highs of 1.4450 to 1.4320 this morning.

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