Wednesday, October 5, 2011

Italy bonds devalued on econ. jitters



Italy and the eurozone are facing a debt crisis.

Source: Press TV
http://www.presstv.ir/detail/202832.html

Moody's credit rating agency has downgraded Italy's government bonds as the eurozone's third largest economy struggles with a burgeoning debt and a faltering economy.

In a statement, the agency said Monday's downgrading of Italy's bonds from “AA2” to “A2” level reflects ongoing economic risks faced by the European country and the eurozone, the Associated Press reported.

Moody's analysts have warned that the rating could even deteriorate further if long-term liquidity support remains uncertain.

"Moody's believes that the structural shift in sentiment in the euro area funding market implies increased vulnerability of this country to loss of market access at affordable rates that is incompatible with an 'AA' rating," the analysts said.

The action follows one-notch similar downgrade by Standard & Poor's (S&P) Ratings Services last month.

S&P analysts have said that Italy's economic growth has weakened and it has higher-than-expected levels of government debt.

The European Central Bank has also demanded harsh austerity measures from Rome. Yet, there are doubts about how serious Italy is about coming to grips with its debt.

The Italian government has announced an austerity package aimed at stopping its debt crisis.

However, the measures have triggered widespread protests and political power struggles within the ruling center-right coalition.

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

Russia Today (Live)

World News 2017

South Front Military Review 2017

Syria - News 2017

US News 2017

The Russian Perspective

Debate – Global Issues 2017

Current Affairs - Important Interviews – 2017

Important Information 2016 - 2017

Yemen News 2017

Turkey News 2017

Ukraine News 2016 - 2017

Palestine & Israeli Crime 2017

Iraq News 2017

Iran News 2016 - 2017

Important Documentaries

Viewpoint, Discussion & Opinion - 2017

Abby Martin – Empire Files

Global Economic News 2017

Egypt News 2016 - 2017

Libya News 2016 - 2017

Bahrain News 2016 - 2017

Sheik Imran Hosein - Islamic Eschatology

George Galloway – Comment & Opinion

English FA Cup 2016 – 2017

New Age Weather

Space News

Music for the Revolutionary Mind

Global Revolution LIVE!

Watch live streaming video from globalrevolution at livestream.com

Japan’s 3 Nuclear Meltdowns STILL ongoing (News Censored)