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Europe Daily Bulletin No. 10426

26 July 2011
Contents Publication in full By article 11 / 26
GENERAL NEWS / (ae) eu/greece
Downgrading of rating - decision pending

Brussels, 25/07/2011 (Agence Europe) - The decision of the ratings agency Moody's to drop Greece's rating two notches to the second-lowest level, one above default (Ca), does not appear to have come as a surprise to the European Commission. “We were expecting this analysis” of the Greek debt situation in the light of the forthcoming trading in debt instruments, a spokesperson to the European institutions stated on Monday 25 July. The agreement of the eurozone summit on a second bailout...