“at least an even chance of (Greece) default over the rating horizon.”

Yesterday 247 Wall Street reported that 'Moody’s Investors Service had downgraded Greece in its local and foreign currency bond ratings.  The new rating is Caa1, down from B1.  Moody’s also assigned a negative outlook on Greece’s ratings.' and explains that 'Moody’s sees higher risks that Greece will not stabilize its debt without restructuring.  Moody’s also noted the Troika group supporters like the ECB, IMF, and the E.U. Commission will likely require private creditors to participate in a debt restructuring.  Moody’s calls it “at least an even chance of default over the rating horizon.” '

I wonder if this will help to persuade our Prime Minister, Chancellor & Foreign Secretary that maybe it would be a bad idea to throw more money at supporting the Greek economy?