Both Greece and Portugal saw their credit rating slashed by ratings agency Standard & Poor's on Tuesday (29 March).
The firm downgraded Greece by two notches to 'BB-' and Portugal by one, to 'BBB-'.
The cut places Greece's credit rating below that of Egypt, currently involved in the uncertainty of its ongoing revolutionary process.
It is also the second downgrade for Portugal by S&P in a week.
S&P said that the cuts were required as a result of fresh concerns that inve...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login