Business Insider
April 27, 2010
S&P cut Greece's ratings today to BB+ and B triggering a sell off in European indices prior to close.
Greek contagion has led to the downgrade of Portugal, and rising credit difficulties for banks throughout the PIIGS states in Europe.
The expectation is that holders of Greek debt will end up taking a massive haircut -- possibly 50% or more.
With Greece creeping towards a default, due to Germany's unwillingness to support the country, we thought we'd revisit again who is going to lose the most in that scenario.
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See who is going to get slammed
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