Monday, December 05, 2011

S & P threaten Eurozone Downgrades

Germany and five other triple A grade rated Eurozone Sovereigns: Germany;France; Holland; Austria; Finland; Luxembourg on "CreditWatch negative" which indicates there is a 50 per cent chance of a downgrade within 90 days.

This blog presumes the warning comes after another completely pointless press conference this afternoon by Merkel and Sarkozy where no attempt was even made to address the real problems facing the Euro Zone today rather than matters related to treaty tinkering for the future. More detail from here.

The Bloomberg report states that all 17 Euro Group countries sovereign debt are now on negative credit watch, see here.

Also this evening, Open Europe reports from Italy that Berlusconi is to suggest that the MontiMental package be put to a parliamentary vote of confidence!

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