Arab Today, arab today moody\s cuts germany outlook
Last Updated : GMT 10:57:56
Arab Today, arab today
Arab Today, arab today

Moody\'s cuts Germany outlook

Arab Today, arab today

Arab Today, arab today Moody\'s cuts Germany outlook

Washington - AFP

Moody's took the first step toward stripping Germany of its coveted AAA credit rating on Monday, cutting the outlook for Europe's largest and most pivotal economy to "negative." Delivering a stark warning that no one is immune from the eurozone's rolling crisis, the ratings agency lowered Germany's credit outlook from "stable" to "negative." A similar move was announced for fellow AAA ranked economies, the Netherlands and Luxembourg. Moody's said all three faced risks from Greece leaving the eurozone and from the need to stump up cash for potential bailouts for Spain and Italy. In Germany, the finance ministry immediately shot back by saying the country remained the "eurozone's anchor of stability." The ministry said it had "taken note of Moody's opinion" while stating the "estimate" put the focus "on short-term risks, while stability prospects in the long term are not mentioned." "The eurozone has initiated a series of measures which should lead to the durable stabilising of the zone," the ministry said. "Germany itself is in a solid economic and financial situation," it insisted in a statement. Moody's rationale for the downgrade appeared to hinge on a likely deepening of the crisis, which appeared to be reaching a fresh denouement Monday as Spanish borrowing costs soared and Greek reforms were on the rocks. "The level of uncertainty about the outlook for the euro area, and the potential impact of plausible scenarios on member states, are no longer consistent with stable outlooks," Moody's said. Even if Greece survives, the agency warned that richer nations would likely shoulder greater burdens in future. "The continued deterioration in Spain and Italy's macroeconomic and funding environment has increased the risk that they will require some kind of external support." That would send the eurozone crisis to a different level, it said. "Spain's economy and government bond market is around double the combined size of those of Greece, Portugal and Ireland," Moody's said referring to the three already bailed-out eurozone nations. While Berlin has, until now, been largely unscathed by the crisis -- borrowing at below zero percent interest -- it has been at the very center of Europe's political storm. The government of Chancellor Angela Merkel has repeatedly been frequently criticized for its austerity-first approach and for not getting ahead of the crisis. Moody's reiterated those concerns, pointing to a "reactive and gradualist policy response" by European leaders as cause of concern. Germany, which is reluctant to have its taxpayers on the hook for profligate spending in southern Europe said it would "do all it can with its partners to overcome the European debt crisis as quickly as possible." Moody's also announced that Finland's AAA rating and outlook were unchanged. On Tuesday German Finance Minister Wolfgang Schaeuble will hold talks with Spanish Economy |Minister in Berlin.  Financial markets have turned against Madrid in recent weeks after an initially positive reaction to a massive 65-billion-euro austerity package turned sour. Each new initiative has failed to hold the line.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today moody\s cuts germany outlook Arab Today, arab today moody\s cuts germany outlook

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday