Mon, 16 Jan 2012 07:47:55 GMT
Standard & Poor's cut creadit ratings of nine Euro Zone memebrs
Standard & Poor's cut credit rating of nine members of the Euro Zone citing the insufficiency of the policies taken by the countries' leaders to tackle the debt crisis. Italy, Portugal, Cyprus and Spain were downgraded by two notches while France, Malta, Slovakia and Austria lost one notch each. S&P also put on negative outlook 14 Euro Zone members.