End Times and Current Events
June 18, 2021, 04:24:06 pm
Welcome, Guest. Please login or register.

Login with username, password and session length
News: Welcome To End Times and Current Events.
 
  Home Help Search Gallery Staff List Login Register  

S&P Downgrades Credit Ratings in Eurozone Countries

Shoutbox
August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
September 14, 2017, 04:31:26 am Christian40 says: i have thought that i'm reaping from past sins then my life has been impacted in ways from having non believers in my ancestry.
September 11, 2017, 06:59:33 am Psalm 51:17 says: The law of reaping and sowing. It's amazing how God's mercy and longsuffering has hovered over America so long. (ie, the infrastructure is very bad here b/c for many years, they were grossly underspent on. 1st Tim 6:10, the god of materialism has its roots firmly in the West) And remember once upon a time ago when shacking up b/w straight couples drew shock awe?

Exodus 20:5  Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;
View Shout History
Pages: [1]   Go Down
  Print  
Author Topic: S&P Downgrades Credit Ratings in Eurozone Countries  (Read 1579 times)
Psalm 51:17
Global Moderator
Hero Member
*****
Offline Offline

Posts: 28357


View Profile
« on: January 27, 2012, 05:06:05 pm »

http://news.yahoo.com/fitch-cuts-italy-spain-other-euro-zone-ratings-182532666.html

Fitch cuts Italy, Spain, other euro zone ratings

1/27/12

NEW YORK (Reuters) - Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1-in-2 chance of further cuts in the next two years.
 
In a statement, the ratings agency said the affected countries were vulnerable in the near-term to monetary and financial shocks.
 
"Consequently, these sovereigns do not, in Fitch's view, accrue the full benefits of the euro's reserve currency status," it said.
 
Fitch cut Italy's rating to A-minus from A-plus; Spain to A from AA-minus; Belgium to AA from AA-plus; Slovenia to A from AA-minus and Cyprus to BBB-minus from BBB, leaving the small island nation just one notch above junk status.
 
Ireland's rating of BBB-plus was affirmed.
 
All of the ratings were given negative outlooks.

Fitch said it had weighed up a worsening economic outlook in much of the euro zone against the European Central Bank's December move to flood the banking sector with cheap three-year money and austerity efforts by governments to curb their debts.
 
"Overall, today's rating actions balance the marked deterioration in the economic outlook with both the substantive policy initiatives at the national level to address macro-financial and fiscal imbalances, and the initial success of the ECB's three-year Long-Term Refinancing Operation in easing near-term sovereign and bank funding pressures," Fitch said.
 
Two weeks ago, Standard & Poor's downgraded the credit ratings of nine euro zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, and pushing struggling Portugal into junk territory.
 
With nearly half a trillion euros of ECB liquidity coursing through the financial system, some of which has apparently gone into euro zone government bonds, and with hopes of a deal to write down a slab of Greece's mountainous debt, even that sweeping ratings action had little market impact.
 
The euro briefly pared gains against the dollar after Fitch cut the five euro zone sovereigns but soon jumped to a session high of $1.3208, according to Reuters data, its highest since December 13.
 
Italy is widely seen as the tipping point for the euro zone. If it slid towards default, the whole currency project would be threatened.
 
Italian Prime Minister Mario Monti, a technocrat who has won plaudits for his economic reform drive, said he reacted to Fitch's downgrade of Italy with "detached serenity."
 
"They signal things that are not particularly new, for example, that Italy has a very high debt as a percentage of GDP and they signal that the way the euro zone is governed as a whole is not perfect and we knew that too," he said during a live interview on Italian television.
 
"They also say things that give a positive view of what is being done in Italy because there is much appreciation for policies of this government and this parliament," he said.
 
Fitch said of Italy: "A more severe rating action was forestalled by the strong commitment of the Italian government to reducing the budget deficit and to implementing structural reform as well as the significant easing of near-term financing risks as a result of the ECB's 3-year Longer-term Refinancing Operation."
 
(Reporting by Rodrigo Campos, Daniel Bases, Philip Pullela and Pam Niimi, writing by Mike Peacock, Editing by James Dalgleish)
Report Spam   Logged


Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by EzPortal
Bookmark this site! | Upgrade This Forum
Free SMF Hosting - Create your own Forum

Powered by SMF | SMF © 2016, Simple Machines
Privacy Policy