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IPFS News Link • Economy - International

Greece bonds downgraded to junk status as debt crisis worsens

• AP
Europe's government debt crisis worsened ominously Tuesday when Greek bonds were downgraded to junk status and Portugal's debt was lowered on fears the trouble could spread. Stocks slid on the news.

German reluctance to fund most of a euro45 billion bailout of Greece by European government and the International Monetary Fund is sending shudders through markets that the money may not reach Greece by May 19, when euro8.5 billion in bond payments come due.

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