EU demands Greek action in wake of downgrade

The European Commission has called on Greece to step up its deficit cutting measures just hours after the embattled EU country had its credit rating cut on Tuesday (8 December).

With Athens still reeling from two days of violent protests marking the anniversary of a police shooting of a 15-year old boy last year, credit ratings agency Fitch cut the country's debt grade to BBB plus – a new 10-year low.

News of the rating cut plunged shares on the Greek stock market by more than si...