Euro bailout fund down­grade risk

Midweek Sport - - FRONT PAGE -

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.

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