Greece bashed by Moody's - "Climate Of Handouts"

Group about Greeks

Greece in the category with former communist countries joining the EU.
Greek credit lagging
Moody’s cites debt and inflation, but also notes improvements

Greece remains one of the countries with the lowest credit rating in the EU due to
high public debt, high inflation and the fact that the government has not taken the
necessary structural reforms, Moody's, the international credit rating agency, said
yesterday. But it noted the benefits proffered by the introduction of a new
securitization law.

In a new report called «Greece 2003-2004: Market Overview and Securitization
Prospects,» Moody's noted that it had upgraded Greece's sovereign rating to «A1» in
the autumn of 2002. But, said Sara Bertin, a vice president, senior analyst and one of
the co-authors of the report, «Greece remains one of the lowest-rated countries among
the four non- «Aaa» -rated eurozone members.» The reasons for this, Moody's said, are
Greece's high level of debt (104.9 percent debt ratio in 2002), an inflation rate
above the EU average and «the structural challenges that could impair growth prospects
over the medium term.»

Portugal and Italy are rated «A2.» Greece is in the category with former communist
countries joining the EU.

Moody's also noted the positive development of new legislation which broke the
government's monopoly on securitization transactions, as, until now, only
securitization of public entities' assets had been allowed.

«The most significant recent development in the Greek market is the introduction of
new law, which came into effect from June 25, 2003 and covers corporate bonds,
securitization of receivables, real estate securitization and swap setting,» said
Benedicte Pfister, senior vice president and another co-author of the report. The
agency noted there were «good growth prospects for financial services in the country's
relatively unbanked market. However, Moody's cautions that this outlook also reflects
the growing risk profile of Greek banks due to the excessive credit growth witnessed
in recent years.»

In a briefing for journalists yesterday, Bank of Greece Governor Nicholas Garganas
noted that private debt in Greece (from consumer loans and mortgages) represented 22.5
percent of GDP, against an EU average of 47.5 percent of GDP. He chose not to comment
on the government's pre-electoral program of handouts, referring instead to the next
interim report by the central bank - a move that was seen as indirect criticism of the
climate of handouts pervading the economy.
Roman writes absolute nonsense: "They post under different personalities.
The personalities posting  under the names of WolfWolf, Hoorey, Yanart Amin
and Seanie Kilfoyle are known to be one and the same person."

Unlike Roman, I cannot speak for others, but at least I am writing here
under my chosen and faintly ridiculous pen-name, and under no other name.

Oh, and incidentally, I'm not Turkish either. Not that Roman really cares.


I have not seen any other human being posting more nonsense shit than you,
darling NAZI Turkish TROLL!!!
Don't be afraid, nobody is going to take your place, you'll always be the
number 1 in BULLSHIT production:-)))

You are writing under the name shitty-wolf, Seanie-Stupidiny and any other
anti-Greek screen name:-)
Learn to love it!

YOU are a NAZI Turk!
Learn to love it!

      YOU ARE A CROSSPOSTER:-)))))))))))))))))
Are you a Finn or a Laplander?
Doesn't matter, from the moment he is a RACIST JERK:-)))
He's a turk, probably with British citizenship. So he might not even be
lying about claiming not to be a turk. He got a certain way with words and
can pose as different persons, but always with a marked British accent.    

His "argumentation", his falseness, above all his typical twisting and
perversion mark him genetically as a turk, regardless of what citizenship
he has, or claims to have.   

F*** Off, you racist ArmeNazi!