Greek Public Sector Cutbacks Trigger Strike
Since May 2010, the country has survived on billions in rescue loans from the other 16 eurozone countries and the International Monetary Fund. In return, it raised taxes and slashed wages and benefits, driving hundreds of thousands into poverty.
Last week, the government bought back a large slice of its debt held by private sector investors, scratching some â¿¬20 billion ($26.4 billion) off the national debt.
The ratings agency Standard & Poor's on Tuesday upgraded Greece's credit grade by 6 notches, from default to the B- junk rating.
The action spurred a bank-led rally on the Athens Stock Exchange Wednesday, with shares up nearly 3 percent at 862.88 in afternoon trading.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV