In what could prove to be a test to great to bear for the Euro, Greece appears on the verge of bankruptcy. This week their debt was downgraded to BBB+, which is the 3rd lowest investment grade on the Fitch Ratings scale. With debt expected to rise to more than 120% of GDP next year, [...]
In a possible positive sign for the economy, the number of bankruptcy filings fell during November. The total number of filings was still up 12% over last year, but it was down 18% from the amount of filings in October. Depending on where the December numbers come in, the total quarterly filing could decrease from [...]
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