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Germany Source: Greece's Debt No Topic At EU Summit This Week

BERLIN (MNI) - European Union heads of states and governments will not discuss Greece's economic and financial woes at their meeting in Brussels this Thursday and Friday, a senior German government source said Tuesday.

"I don't expect that, this has already been a topic at the Ecofin," the official explained. "This will not be a topic for the European Council."

Fitch Ratings today downgraded Greece's long-term foreign currency and local currency Issuer Default Ratings (IDR) to 'BBB+' from 'A-'. The outlook is negative, the rating agency said.

The downgrade reflects the uncertainty over medium-term Greek fiscal prospects and the failure of the government to adopt substantive policy measures to deal with it, Fitch explained.