Ratings agency Standard and Poor’s has raised the credit rating of Greece’s sovereign debt by six levels, praising the “strong determination” of fellow eurozone countries to help it stay as a member state.

http://www.bbc.co.uk/news/business-20773955

It’s been raised 6 levels, but is still low enough to be classed as junk.

I’m sure it’s quite easy to raise your rating as long as you’re prepared to sacrifice a generation

If only it was just a generation. It is for the future as far as the eye can see, and the death of democracy in Greece.

Out of idle interest, why don’t these ratings agencies just **** off ?

seems to me they’re even shitter than the banks – the financial equivalent of putting your head out of the window and saying “yeah, it’s raining”, then calling yourself a weather forecaster. Who needs them to explain that Greece is a bit of a risk ?

* Caution: I am not actually an international banking expert 😳

The ratings agency’s seem to be more a case of the tail wagging the dog.

* Caution: I am not actually an international banking expert

Clearly

Clearly

Oh, I don’t know, if I was a European Finance Minister, that’s just the sort of concise, insightful analysis of the situation that I’d be looking for.