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GREECE - Factors to Watch on March 8
March 8, 2011 / 8:32 AM / 7 years ago

GREECE - Factors to Watch on March 8

ATHENS, March 8 (Reuters) - Here are news stories, press reports and events which may affect Greek financial markets on Tuesday:

MOODY‘S DOWNGRADE TIPS GREECE CLOSER TO BRINK

Moody’s slashed Greece’s credit rating by three notches on Monday due to an increased default risk, raising the spectre that the distressed euro zone sovereign may have to restructure its debt, perhaps before 2013. [ID:nLDE72709H]

GREECE TO SELL 1.25 BLN EUR 26-WEEK T-BILLS MAR. 8

Greece will auction 1.25 billion euros ($1.75 billion) of 26-week T-bills on March 8 as part of its monthly short-term debt sales, the country’s debt agency (PDMA) said on Friday. [ID:nLDE72314U]

IMF BELIEVES GREEK DEBT SUSTAINABLE-IMF OFFICIAL

The International Monetary Fund is confident Greece’s economic program will succeed and believes its debt is sustainable, an IMF official said Monday after Moody’s slashed Greece’s credit rating by three notches. [ID:nLDE72709A]

EU‘S REHN:THERE IS A CASE TO REDUCE GREEK, IRISH RATES

The most pressing issue for Greece and Ireland is debt sustainability and there is therefore a case for lowering the interest rate on their bailout loans, the EU’s monetary affairs commissioner said on Monday. [ID:nBRQ010100]

PUBLIC REVENUES SHOW 500 MLN EURO SHORTFALL IN JAN-FEB

Greek public revenues missed targets by 500 million euros in the first two months of the year, based on preliminary data by the finance ministry, financial daily Naftemporiki reported. Revenues raeched 8.3 billion euros versus a targeted 8.8 billion.

www.naftemporiki.gr

PRIME MINISTER TO MEET POLITICAL PARTY LEADERS

Prime Minister George Papandreou is scheduled to hold separate meetings with the leaders of the country’s political parties ahead of a special euro zone summit on an economy pact on March 11.

GREEK SOCIALISTS’ LEAD DOWN TO NARROWEST SINCE OCT 2009

Greece’s ruling Socialists’ lead over the conservative opposition has shrunk to its narrowest level since their October 2009 election victory, hurt by austerity policies to lift the country from a debt crisis, a poll showed on Saturday. [ID:nLDE7240FP]

GREEK JAN HOUSEHOLD CREDIT CONTRACTS 1.4 PCT Y/Y

Greek household credit shrank in January as the economic downturn suppressed demand for loans, the country’s central bank said on Friday. [ID:nLDE7220J9]

EUROPE FACTORS-SHARES SET TO RISE AS OIL EASES

European shares were set to edge up on Tuesday, rebounding from losses in the previous session, as crude prices eased from highs on reports Libya’s Muammar Gaddafi was looking for a way to step down and as OPEC discussed increasing production. [ID:nLDE72703W]

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For other related news, double click on: ---------------------------------------------------------- EUR Money Guide <EUR/1> Greek Debt News [DBT-GR] Greek Equities Guide <GR/EQUITY> Greece’s Debt <GR/DEBT> Greek Economic Indicators [ECI-GR] Government Debt <GR/GOVT> Greek Stock News [STX-GR] Greek Money News [M-GR] Greek Exchange Info <GR/EXCH1> ---------------------------------------------------------

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