Find solutions for Greece

Instead of discussing the lowering of Greece's credit rating by US rating agency Moody's we should be discussing the debt-stricken country's prospects, writes the liberal-conservative daily Die Presse: "The timing of this most recent downgrading by US rating agency seems strange. The reasons cited by the agency for its the move are nothing new. And it is also true that during the financial crisis Moody's & co. turned out to be incompetent suppliers of useless figures instead of useful assessments. ... However this won't change the fact that the three major US agencies are still being taken seriously and have a kind of global rating monopoly - which among other things enables them to decide how much countries pay for their debts. Nor does it change the fact that Greece is indeed pretty much bankrupt. It would be better to start thinking about solutions for this heavily encumbered Eurozone member rather than hitting out at the rating agencies."

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