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Greek bond swap bring new downgrade

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Published on Feb 22, 2012

http://www.euronews.net/ Greek lawmakers are pushing forward with a raft of measures demanded by eurozone states in exchange for the 130 billion euro rescue.

Meanwhile, the Fitch ratings agency has downgraded the country's creditworthiness further into junk status -- meaning they consider it is deeply unlikely anyone lending money to Greece would get it back.

All the rating agencies are of a similar opinion. They consider Athens deal with private creditors who are taking big losses on their loans means it has "technically" defaulted on its debts.

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