S&P issues fresh Greek debt warning

Ratings agency Standard and Poor has issued a fresh warning about Greek debt despite a deal at the weekend.

Ratings agency Standard and Poor has issued a fresh warning about Greek debt despite a deal at the weekend.

S&P said the proposals floated by the French Bank Federation risk putting Greece into a selective default.

France has proposed that lenders roll over their loans into new 30-year bonds, giving Greece more time to put its financial house in order.

On Saturday, eurozone finance ministers approved the next €12bn slice of a rescue worth €110bn provided in May last year by the EU and IMF.

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