Wednesday 17 July 2013

Eurozone bailout fund downgraded

The €urozone bailout fund has been downgraded by the rating agency, Fitch, from AAA to AA+.

It isn't much of a drop but it's a sign of an increasing lack of confidence in the €urozone and the ability of the Germans to bail out most of the continent.  Standard & Poors downgraded the bailout fund in January and France was downgraded earlier this year from AAA to AA+ which Fitch have cited this as one of the reasons for the €urozone bailout fund downgrade.