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Tuesday, July 24, 2012

Surprise after U.S. market close: Moody's doubts about Germany

English: Various Euro bills.
English: Various Euro bills. (Photo credit: Wikipedia)
The effects of the debt crisis reached the core of Europe: In a sweeping attack against three euro countries, the rating agency Moody's changed the outlook for the credit of Germany, Luxembourg and the Netherlands downgraded. The outlook is now rated as  “negative” and not as “stable”, as the agency a few minutes after telling U.S. market close. The outlook for Finland remained stable.
analysts from Moody’s based its decision on a “growing uncertainty” because of the euro debt crisis. The probability of a leak of Greece from the area had increased. Even if this is not passing, it must be assumed that countries like Spain and Italy would need additional help.
It should be assumed that the European states would have to shoulder a very good credit rating, the new aid, which led Moody’s experts in the communication continues. Germany and other economically powerful countries in the euro zone have already used the weaker partners in the arms. ... Continue to read.
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