Sunday, December 18, 2011

Downgrade Fever Makes Euro Sweat


From the Wall St Journal: More speculation that Europe's most-indebted nations could have their credit ratings cut will likely pressure the euro this week, and more signs of a slowdown in the euro-zone economy could add another blow.

The European Union fiscal accord reached earlier this month has roundly been declared a disappointment, prompting analysts to say there is little to prevent the common currency from setting new 2011 lows before year-end. Late Friday, Moody's Investors Service downgraded Belgium by two notches, to Aa3, citing the deterioration in euro-zone bond markets….

Read more at http://online.wsj.com/article/SB10001424052970203733304577102770408014442.html?mod=WSJ_hp_LEFTWhatsNewsCollection

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