S&P places 15 euro area countries on negative outlook

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Source: Marketwatch
© Scanpix/AFP

On Monday Standard & Poor's positioned sovereign credit ratings of 15 nations on CreditWatch negative that could lead to downgrade in forthcoming few months. According to S&P statement, disagreements among European leaders on how to resolve the European debt turmoil are putting negative pressure on overall credit rating of the Eurozone. 15 countries include 6 AAA rated countries: Germany, France, Netherlands Austria, Luxembourg and Finland. Greece with its CC rating was excluded from the review. 

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Tue, 06 Dec 2011 07:25:52 GMT

Sarkozy and Merkel to look for new treaty

On Monday German Chancellor and Merkel and French President Sarkozy announced they are aiming at revamping current treaties to strengthen the euro region's fiscal restraints and bring back confidence in Euro. Changes include developing tighter fiscal alliance along with stricter budget rules which would automatically penalize countries which violate deficit and debt limits. 

Tue, 06 Dec 2011 07:24:05 GMT

Asian stocks trade lower on Australia and S&P warnings

Asian stocks closed lower on Tuesday as Standard & Poor's positioned most of Eurozone on monitoring for a credit rating downgrade and Australian central bank has cut its benchmark interest rate. Hong Kong's Hang Seng Index edged down 1.6%, Shanghai Composite Index lost 0.8%, while South Korea's Kospi fell 1.2%. Australia's S&P/ASX 200 index dropped 1.1% and Japan's Nikkei Stock Average declined 1.0%.

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