The current rating for Greek bonds is just that, a rating. A bit of a useless rating as Greece for the time being probably won't be borrowing in the market.Originally Posted by GGT
Some of the "hysteria" seems connected to those damn ratings agencies. Looks a lot like when they suddenly downgraded MBSs, Lehman and Bear....massive sell-offs. Greek bonds can become junk over night, but they were junk long ago. Then it's like a vicious cycle of downgrades, selling, financing debt more expensive, deficit rises, rinse repeat. PIGS--what will happen?
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