On December 5, shortly before Angela Merkel and Nicolas Sarkozy announced their plan to save the euro, the rating agency Standard & Poor's declared that it had put the long term sovereign debt rating of 15 of the eurozone's 17 member states under "Negative Watch." A total of 6 "Triple A" states are now under watch, including France and Germany. On December 6, S&P also placed the European Financial Stability Fund under the same regime, saying it may downgrade its Triple A rating two notches.
Was this article useful? If so we are delighted!
It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.
Discover our subscription offers and their exclusive benefits and become a member of our community now!