Monday, February 13, 2012

EU: Sinking Below the Waves

And as I have stated many times, it couldn't happen to a better, more deserving bunch of self-serving elitist states.




Moody's adjusts ratings of 9 European sovereigns to capture downside risks

Global Credit Research - 13 Feb 2012

London, 13 February 2012 -- As anticipated in November 2011, Moody's Investors Service has today adjusted the sovereign debt ratings of selected EU countries in order to reflect their susceptibility to the growing financial and macroeconomic risks emanating from the euro area crisis and how these risks exacerbate the affected countries' own specific challenges.

Moody's actions can be summarised as follows:

- Austria: outlook on Aaa rating changed to negative
- France: outlook on Aaa rating changed to negative
- Italy: downgraded to A3 from A2, negative outlook
- Malta: downgraded to A3 from A2, negative outlook
- Portugal: downgraded to Ba3 from Ba2, negative outlook
- Slovakia: downgraded to A2 from A1, negative outlook
- Slovenia: downgraded to A2 from A1, negative outlook
- Spain: downgraded to A3 from A1, negative outlook
- United Kingdom: outlook on Aaa rating changed to negative










end to the euro

Make Mine Freedom - 1948


American Form of Government

Who's on First? Certainly isn't the Euro.