Greece

Says:

• ‘Nothing was said on Greek referendum at summit
• Main two Greek parties should reach agreement
• Greek parties should make accord to reduce uncertainty
• Economic forecasts are ‘out of date’
• There’s ‘enormous slowdown’ in developed countries
• No one expected Greek referendum

Good Morning:

Good Morning:

Greek confidence vote scheduled June 21,2011

Greece’s rating has been cut by the Standard & Poors to CCC from B. Outlook negative

Says:

Says:

• Greek public needs ‘reassureance’ over debt plan
• Greek debt restructuring undesirable, not needed
• Greek debt restructuring would hurt Euro bank system
• If program implemented restructuring will not be necessary
• Europes debt crisis will be resolved
• ECB’s April rate increase sent important signal
• Loose policy globally encouraging risk taking 

Good Morning:

Moody’s downgrades Greece to BA1 from A3.