S&P downgrades nine eurozone credit ratings
January 26, 2012
Standard & Poor’s has downgraded several of the eurozone’s leading economies, which means that it will be more expensive for them to borrow in future.
It’s stripped France of its AAA credit rating. The ratings of Italy, Spain and Portugal have also been cut by two notches.
Al Jazeera’s Jackie Rowland reports from Paris.
Duration : 0:5:2
[youtube 1Eq3n1fI0M0]
25 Responses to “S&P downgrades nine eurozone credit ratings”
Leave a Reply
Sponsor
No matter what credit score you have, auto refinance is a specialty at Roadloans. Visit us to see how much money we can save you.
S&P were giving a …
S&P were giving a buy signal for Lehman Bros, a few days before their collapse. Lol.
lmfao, look at …
lmfao, look at these buthurt libtards, always looking to blame everyone.
The French are …
The French are just as proud and stubborn as us.
No surprise on …
No surprise on Spain and Portugal though.
Looks like Paris …
Looks like Paris better shut off the sparkling Eiffel Tower.
S&P? are’nt they …
S&P? are’nt they the guys who fradulently rated those mortgage securities?
what a sham.
@minhounou well OK …
@minhounou well OK that’s pretty much true, we do have more options right now.
@StarsManny lolz …
@StarsManny lolz c’mon I don’t care about S&P and his downgrade.
I just wrote that Fitch is predominantly own by a French and that the UK deserve also a downgrade since you have a bad economic situation, a weak growth rate, and even a worst deficit and debt rate than France.
The only difference with France is that you are not member of the eurozone and the bank of England is totally independent. otherwise you will already downgrade…
The investissors don’t trust the eurozone anymore.
@minhounou The UK …
@minhounou The UK may be in alot of debt, but it also OWNS alot of debt – they pretty much cancel each other out. Also the debt the UK owns brings in more interest than they have to pay out on the debt they have.
@minhounou That’s a …
@minhounou That’s a attitude. OK so you’ve just had a downgrade, but it’s not the end of the world.
If you hope for something like that then you’re a fool, because nobody benefits from a neighbouring countries’ economy getting into trouble. You think we’re laughing about the French downgrade here? No, because it is bad news for us too. We would like to see healthy trade all everywhere because everyone benefits. Stop being paranoid.
Standard & Poor´s …
Standard & Poor´s is just a puppet of an bankruptcy US system, try too destroy Europes financial system.
Never trust dollar´s. Its only paper.
@StarsManny Fitch …
@StarsManny Fitch already said that France will keep his AAA in 2012, this agency is one of the 3 most important and she is majority own by a French billionaire Marc Ladreit de Lacharrière owner of the holding Fimalac. so…
I hope the others agencies will downgrade the UK, since their deficit and debt rate are pretty the same or even more than France…
certain banks, like …
certain banks, like RBC for example, are obliged to attend bond auctions (and expected to buy bonds) if they’ve made commitments to those countries to be preferred bondholders. these agreements span, in some cases, over a decade. so when countries tank, like greece, banks reluctantly attend auctions and reluctantly buy debt. but if their mandate is to only buy triple-a rated products, this kind of downgrade gives them a great excuse to bow out.
@matman125
Clearly …
@matman125
Clearly you never been to Paris!! That is a light show they hold I think every night
We’re taking S&P …
We’re taking S&P seriously? The same agency that still rated American (sub-prime) mortgage backed securities AAA in 2008? Ok then..
I m fed up with S& …
I m fed up with S&P!!!! ufffff
Ami the only one …
Ami the only one who thinks there will be a complete economic fall new rise of nationalism another hitler and world war another holocaust another 2 nations will rise as the new world powers as the US falls another nation created in the most hospitable place another cold war everything over AGAIN FUUUUU
YUP THE EU IS …
YUP THE EU IS FUCKED
What’s that finance …
What’s that finance minister talking about? No credit agencies are “dictating government policy”, that’s just stupid. They just give ratings so that OUR retirement funds at least have a chance of going somewhere decent.
They’re not always right of course. In this case though they are just reacting to what investors are ALREADY saying in the interest rates they demand.
btw I wonder if the French-owned Fitch agency will follow suit? Perhaps not
@frankknopers There …
@frankknopers There already is one. The Fitch agency is French.
If the Australian …
If the Australian Prime minister dares give any more money to this waste of space im out on the street, china is our futre not europe and we have given billions in a waste of time no more money to support up euro bonds we must not give these people one more dollar
Sarkozy bye bye ! …
Sarkozy bye bye ! dans 4 mois on entendra plus parler de toi…
Marc Faber – CNBC …
Marc Faber – CNBC 13 January 2012
Downgrade of Debt Ratings Underscores Europe’s Woes
Jan-13-2012–PARIS – Standard & Poor’s downgraded the credit ratings of France, Italy and seven other European countries on Friday, a move that may have more symbolic than fundamental financial impact but served as a reminder that Europe’s economic woes were far from over.
AAA rating, cut a notch to AA+, was “not good news”
but was “not a catastrophe.”
INFO-AWARENESS – VIKEN Z KOKOZIAN
Can someone do an …
Can someone do an investigation on the executive & advisory heads of S&P, ECB & EU council? The public will love to know how they could be related. They seem to be working in concert to consolidate political & financial power within EU, effectively reducing the executive powers of the heads of the member states. This monetary union is slowly becoming an effective political union which could completely gain control of all member states in the near future.
3:03 The is …
3:03 The is going on at the Eiffel Tower?