Greece credit rating upgraded on news of recent financial progress. Milder recession predicted, with - Polidicks

[img]http://news.bbcimg.co.uk/media/images/64732000/jpg/_64732549_64732548.jpg[/img] [i]There have been many protests across Greece against tough austerity measures[/i] [quote]Ratings agency Fitch upgraded Greece's credit rating, citing progress in cutting its budget deficit and the risk of a eurozone exit receding. Fitch up-rated Greece by one notch from CCC to B-, which is still junk status. But Greece, seen by many last year as likely to leave the eurozone, recently won praise from the International Monetary Fund for progress in putting its finances in order. Fitch also forecast a milder recession in Greece this year. The agency said that problems remain and recognised the unpopularity of austerity measures being pushed through by the government. Fitch said: "The price has been high in terms of lost output and rising unemployment and the capacity for recovery is still in doubt. "Nonetheless, sovereign debt relief and an easing of fiscal targets have lifted central bank measures of economic sentiment to a three-year high and the risk of eurozone exit has receded." The Fitch move comes after Standard & Poor's also raised Greece's rating to B-minus with a stable outlook from selective default in December.[/quote] [url]http://www.bbc.co.uk/news/business-22533108[/url]

Hopefully Europe will crawl out of this financial tough spot soon enough but learn something in the process.

Forecasts mean nothing. Britain has had strong positive growth predicted for several years now and all we've gotten is zero to no growth and a narrowly avoided triple-dip recession. Ditto for credit ratings.

[QUOTE=amorax;40680423]Forecasts mean nothing. Britain has had strong positive growth predicted for several years now and all we've gotten is zero to no growth and a narrowly avoided triple-dip recession. Ditto for credit ratings.[/QUOTE] They predict a lot better than you can. Plus the worst is over. It's improving now. Also we didn't have a double dip recession.

[QUOTE=amorax;40680423]Forecasts mean nothing. Britain has had strong positive growth predicted for several years now and all we've gotten is zero to no growth and a narrowly avoided triple-dip recession. Ditto for credit ratings.[/QUOTE] Britain hasn't had strong growth predicted for quite a while; we've just not been quite hitting the low predictions. Also, there was no double-dip recession in the first place ([url]http://www.telegraph.co.uk/finance/economics/10048704/There-was-no-UK-double-dip-recession-ONS-data-suggests.html[/url]), so we couldn't have fallen into a third one.

[QUOTE=Sobotnik;40680460]They predict a lot better than you can. Plus the worst is over. It's improving now. Also we didn't have a double dip recession.[/QUOTE] Bullshit. Typical sobotnik post. It is not improving at all. Look at the social stats for various areas of Britain. All thats happened is that the poor have gotten poorer, the rich have gotten richer and that the middle class are still feeling the strain. The wealth gap is more and more accentuated by the recession; making people destitute still. It is ridiculous and this is coming from a member of the upper class. If you deny we had a double dip recession then you are a fucking idiot (but we knew that already).

[QUOTE=Ruski v2.0;40680714]Bullshit. Typical sobotnik post. It is not improving at all. Look at the social stats for various areas of Britain. All thats happened is that the poor have gotten poorer, the rich have gotten richer and that the middle class are still feeling the strain. The wealth gap is more and more accentuated by the recession; making people destitute still. It is ridiculous and this is coming from a member of the upper class. If you deny we had a double dip recession then you are a fucking idiot (but we knew that already).[/QUOTE] [url]http://www.bbc.co.uk/news/business-22484394[/url] Ignoring financial and economic news is not acceptable if you want to comment on whenever things are improving or not.

[QUOTE=Retardation;40680845]"suggests", "may", "may be", "probably" nothing in the article concisely concludes anything. it's just speculation based on incomplete data by analysts. you are grasping at straws here.[/QUOTE] It's the best estimate we have to date. The worst is over dude.