[…] after a myriad budget cuts, a million lost jobs, 250,000 closed businesses and nearly 240 billion euros ($267 billion) in rescue loans, the country is once again on the brink of default and relations with its creditors are worse than ever.
Moody’s rating agency said Monday that Greece is, despite all its savings efforts, still the fourth riskiest sovereign bond issuer, behind Ukraine, Venezuela and Argentina, all which have either defaulted on their debt or are perilously close to doing so.
Because the public sector was spared cost cuts, the private sector suffered the burden of recession.
If Greece gets no more …read more
Source: San Francisco Chronicle
