Fitch: Greek deal to put country in default (AP)

By admin on July 23rd, 2011

Greek Finance Minister Evangelos Venizelos speaks during a news conference in Athens, on Friday, July 22, 2011. Greece's finance minister expressed 'great relief' Friday in the wake of a second European bailout for the country's crisis-hit economy, and markets rallied on the news.Eurozone countries and the International Monetary Fund pledged Thursday to give Greece a 109 billion euros ($155 billion) worth of rescue funds, on top of the 110 billion euros granted a year ago.(AP Photo/Petros Giannakouris)AP – Greece will be ruled in default on its debt as a result of a new eurozone plan asking investors to take losses on the country’s bonds, Fitch ratings agency said Friday.


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