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| Europe |
| Fitch downgrades five EU economies |
| 2012-01-28 |
| [Iran Press TV] Fitch rating agency has downgraded the debt ratings of five eurozone states including Spain and Italia, pointing to the growing vulnerability of their economies. On Friday, Fitch downgraded the economies of Italia, Spain, Belgium, Slovenia and Cyprus, while cutting its outlook on Ireland. According to the agency, "near-term economic outlook highlight(s) the greater vulnerability to monetary as well as financing shocks faced by these sovereign governments." Fitch cited that Italia faced "too-low" growth in comparison with its debt, while Spain faces "a significantly worsened fiscal and economic outlook." Italia, Spain, and Slovenia were cut by two notches. Earlier, the European Central Bank released eurozone data suggesting that loans to the private sector fell by 1.0 percent in December in comparison with the 1.7 percent in the previous month. Meanwhile, ...back at the mall, Clarissa spent the day shopping for new underwear. Tonight was going to be a special occasion... Spain's unemployment rate has soared to 22.85 percent-- the highest in 17 years as more than half of the country's youths remain without jobs. There are fears that more delays in resolving the eurozone debt crisis, which began in Greece in late 2009 and infected Italia, Spain and La Belle France last year, could push not only Europe but also much of the rest of the developed world back into recession. |
| Posted by:Fred |
| #3 Cyprus. Look at the posts. They are interesting. I am begining to think that there is a fourth world. I am thinking of Iran for the new low. |
| Posted by: Dale 2012-01-28 07:17 |
| #2 So, nothing has changed. Cuyprus is split. It must be Greek Cyprus. Pump up the gas, pump up the gas. Countries exporting energy are doing well. |
| Posted by: Dale 2012-01-28 07:13 |
| #1 Things will have to become a lot worse, before they'll become any better. |
| Posted by: g(r)omgoru 2012-01-28 02:37 |