It really says something about your country's credit when you're considered less likely to meet debt payments than a country that just had a coup d'etat:
This goes to show that debt overload can be more painful than a revolution. Egypt recently went through a debt downgrade of its own. The good news for Egypt is that they don't need an IMF bailout just yet. The bad news for Greece is that they can't use regime change as an excuse for inaction.
Moody's Investors Service downgraded Greek debt to B1 from Ba1 -- lower than Egypt -- and said it may cut further, drawing an indignant protest from the Greek Finance Ministry.
This goes to show that debt overload can be more painful than a revolution. Egypt recently went through a debt downgrade of its own. The good news for Egypt is that they don't need an IMF bailout just yet. The bad news for Greece is that they can't use regime change as an excuse for inaction.
