Greek economy in turmoil

After Fitch, the international credit rating institution, Standard and Poor's also decreased the credit rate of Greece.

Standard and Poor's downgraded Greece's credit rate from "A-" to "BBB".

The reason for downgrade is grounded on a statement by Prime Minister George Papandreou explaining saving measures to be taken by his government which Standard and Poor's considered as lacking in providing a "sustainable" decrease in the public debts of the country.

Last week, Fitch did downgraded Greece's credit note to "BBB" from "A-" and described the Greek economic outlook as "negative".