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Wednesday, February 22, 2012

Fitch cuts Greece

 Fitch downgraded Greece to C from CCC this morning, saying the Greek bond swap would be a restricted default.  "Greece or ratings agencies." European shares and the euro hardly blink in response to the downgrade, with the Stoxx 50 -0.8% and the euro flat and buying $1.3228 (7:10 ET).

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