Fitch lowers French credit outlook

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Source: Bloomberg

Fitch ratings lowered France's national credit outlook and put Italy, Spain, Slovenia, Belgium, Cyprus and Ireland on a review for downgrading due February. Fitch agency's move stimulates pressure on euro zone's officials to solve the 2-year debt turmoil. The main concern is lack of credible financial backing, said Fitch in its statement. 

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Mon, 19 Dec 2011 08:41:36 GMT

EU ministers to seek additional funding

Today European officials are holding a meeting to discuss additional funding valued at 200 bn euros ($261 billion) through IMF as well as consider mechanisms for implementing fiscal tightening. The main goal of conference is to meet a self-forced deadline for providing extra aid for debt woe. Nevertheless, analysts are cautions regarding effects the meeting will have on markets as there is too much uncertainty. 

Mon, 19 Dec 2011 08:40:21 GMT

Moody's cuts Belgium's credit rating

Moody's Investors Service lowered Belgium's credit rating two steps down on growing concerns that increasing borrowing costs, slackening growth and obligations from Dexia SA's breakup can expand the euro region's fifth largest debt burden. Moody's cut Belgium's sovereign debt rating from Aa1 to Aa3 indicating negative outlook.

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