The German economy has taken its first step towards possibly being downgraded, after the credit rating agency Moody's declared the outlook for the country's credit rating is negative.

Germany currently has a AAA credit rating, but it, along with Luxembourg and the Netherlands, is now on "negative watch".

It's thought Germany will be affected by a possible exit by Greece from the euro.

Meanwhile, IMF officials are en route to Greece, ahead of talks to assess the troubled country's progress towards reducing its debts.

The creditors will confirm whether or not Greece is eligible to receive the final installment of the 130 billion euro bail out package.