Entire eurozone could suffer credit downgrade

Standard and Poor’s has warned the eurozone that it could cut credit ratings of all of its members, including the six triple A countries.

Izvor: Beta

Tuesday, 06.12.2011.

11:14

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Standard and Poor’s has warned the eurozone that it could cut credit ratings of all of its members, including the six triple A countries. Those include Germany and Luxembourg. Cyprus and Greece are exempt from this monitoring system, due to the fact that they already have "the worst credit rating globally". Entire eurozone could suffer credit downgrade The rating agency is monitoring the entire zone in order to possibly cut its status, increasing pressure on EU leaders as they prepare to try and find solutions to the crisis in a summit scheduled for later this week. On Monday, French President Nicolas Sarkozy and German Chancellor Angela Merkel met in Paris and agreed "on a master plan involving treaty change to impose budget discipline across the euro zone", reported euronews. They said their proposal included "automatic penalties for governments that fail to keep their deficits under control".

Entire eurozone could suffer credit downgrade

The rating agency is monitoring the entire zone in order to possibly cut its status, increasing pressure on EU leaders as they prepare to try and find solutions to the crisis in a summit scheduled for later this week.

On Monday, French President Nicolas Sarkozy and German Chancellor Angela Merkel met in Paris and agreed "on a master plan involving treaty change to impose budget discipline across the euro zone", reported euronews.

They said their proposal included "automatic penalties for governments that fail to keep their deficits under control".

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