Debt Renewal May Trigger Default Rating Agency Issues Greek Rescue Plan Warning

Rating agency Standard & Poor's has cast fresh doubt on Greece's hopes for an economic rescue by warning that a French bank plan to renew maturing Greek bonds could be classified as a default. The agency has also questioned the country's ability to implement its new austerity program.
Demonstrators clash with riot police in Athens last week: A rating agency poured cold water on a private-sector rescue plan on Monday.

Demonstrators clash with riot police in Athens last week: A rating agency poured cold water on a private-sector rescue plan on Monday.

Foto: Orestis Panagiotou/ dpa
cro -- with wire reports