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Acropolis Sunset in Athens Greece

July 14, 2010

Moody’s cuts Portugal to A1

Not much reaction in Europe over Moody's downgrade on Portugal's (read about it at Financial Times) debt from AA2 to A1. Funniest remark about this was "Monty" at the Ace of Spades Blog:

"Here's something I don't understand. When Greece's troubles became widely-known, markets the world over immediately pissed themselves. So yesterday Moody's cuts Portugal's debt rating to A1, and....nothing. What the hell, man? Greece gets kicked in the nuts but Portugal gets a pat on the head? ."

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The Hagia Sophia in Constantinople


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