Euro bailout fund downgrade risk
THE bailout fund set up to ease the eurozone debt crisis has itself been added to a list of 15 single currency nations at risk of having their credit ratings downgraded.
And there was also a further blow as official figures confirmed that the 17 economies within the euro area grew by just 0.2 per cent in the third quarter – raising fears of recession.
Ratings agency Standard & Poor’s move to place 15 nations on “credit watch” could affect six countries with AAA ratings.
They now have a 50% chance of losing their top-rated status.
German Chancellor Angela Merkel said this week’s EU Summit with French President Nicolas Sarkozy ( right) would send a signal of confidence.