Standard & Poor's lowers Greece's long-term credit ratingAugust 8, 2012 - 11:01 AMT PanARMENIAN.Net - Standard & Poor's Ratings Services has lowered its outlook on Greece's long-term credit rating, saying it is likely that the financially troubled nation will experience a shortfall in its 2012 budget, Belfast Telegraph said. The report came amid a worsening economy and delays that have kept the Athens government from implementing cuts. The ratings firm downgraded Greece's long-term sovereign credit rating from stable to negative. The move reflects the possibility that S&P will downgrade Greece's rating if the nation fails to get additional funding from other eurozone countries and the International Monetary Fund. Greece has been relying on such loans since high interest rates pushed it out of bond markets in 2010. In return, it has imposed harsh austerity measures, slashing pensions and salaries, repeatedly hiking taxes and increasing the retirement age. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Caring for nature, we have started with ourselves - Team Telecom Armenia Team Telecom Armenia summarized the work undertaken within the company in the direction of environmental protection. Azerbaijani President travels to Moscow Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Residents of border Armenian villages continue protests Residents of several Armenian communities in Tavush province continued protests into April 22 morning. U.S. welcomes Armenia, Azerbaijan’s border delimitation announcement Blinken said it is an important step towards concluding a durable and dignified peace agreement. |