Greece Stocks Slump 6% over Debt Fears

World | December 9, 2009, Wednesday // 08:34|  views

The Athens Stock Exchange saw Greek shares fall 6% on Tuesday. Photo by greekshares.com

Falling confidence in Greece's economic policies and ability to pay its debts have seen Greek shares slump 6%.

The decline came after the Fitch credit rating agency cut Greece's rating to a 10-year low. Greek bond prices also fell as a result, the BBC reported.

Fitch's move underscores the fact that Greece's debt is the most expensive to service in the eurozone.

The European Commission urged the Greek government to take "more measures" to reduce its deficit.

Greece has the highest debt of the 16-member eurozone - forecast at 125% of gross domestic product next year.

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Tags: Fitch, greece, Greek shares, stocks, Athens Stock Exchange

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