Credit-rating firm Standard and Poor’s downgraded nine European countries Friday, saying national leaders are moving too slowly to strengthen the troubled eurozone’s finances. France lost its top-tier AAA rating, while Italy and Spain were downgraded by two notches. Germany, which has Europe’s largest economy, kept its AAA rating. Lower credit ratings may raise the cost […]
France, Austria Lose Their Top Credit Ratings, Italy Sinks Lower
Posted January 13th, 2012 at 5:05 pm (UTC-5)
France and Austria lost their top-rated credit standings, while Italy sank lower Friday in the latest fallout from Europe’s two-year governmental debt crisis. France and Austria had been among six that use the common euro currency that maintained a top AAA rating. But late Friday they both reported that Standard & Poor’s, one of the […]
France, Austria Lose Their Top Credit Ratings
Posted January 13th, 2012 at 3:20 pm (UTC-5)
France and Austria have lost their top-rated credit standings, the latest fallout from Europe’s two-year governmental debt crisis. The two countries had been among six that use the common euro currency that maintained a top AAA rating. But France late Friday said that one of the world’s three key credit-rating firms, Standard & Poor’s, had […]
News Agencies: France Facing Credit Downgrade
Posted January 13th, 2012 at 1:30 pm (UTC-5)
European news agencies are reporting that France is about to lose its top-rated credit standing, the latest fallout from Europe’s two-year governmental debt crisis. France has been one of six countries among the 17 that use the common euro currency that maintained a top AAA rating. But news reports Friday said that one of the […]
European Central Bank Leaves Key Interest Rate Unchanged
Posted January 12th, 2012 at 3:15 pm (UTC-5)
The European Central Bank left its key interest rate unchanged at a record-low one percent on Thursday, as signs emerged that the continent’s governmental debt crisis may have eased for the moment. The continent’s central bank had cut the benchmark borrowing rate by a quarter percentage point in each of the last two months in […]
European Central Bank Leaves Key Interest Rate Unchanged
Posted January 12th, 2012 at 11:35 am (UTC-5)
The European Central Bank left its key interest rate unchanged at a record-low 1 percent on Thursday, as signs emerged that the continent’s governmental debt crisis may have eased for the moment. The continent’s central bank had cut the benchmark borrowing rate by a quarter percentage point in each of the last two months in […]
EU Heightens Pressure on Hungary for Reforms
Posted January 11th, 2012 at 10:20 am (UTC-5)
The European Union is heightening its pressure on Hungary for reforms, saying that it has failed to effectively control its budget deficit and that its new constitution may be unlawful. EU economy minister Olli Rehn said Wednesday that the Budapest government has failed to permanently keep its deficit spending below the EU-mandated level of 3 […]
Economists Fear Germany on Brink of Recession
Posted January 11th, 2012 at 7:30 am (UTC-5)
Germany may be on the brink of a recession as the country’s economy contracted by 0.25 percent in the fourth quarter of 2011. Economists fear another down quarter may be in-store for the first quarter of 2012. The German statistics office announced the economic news Wednesday. Despite the fourth quarter downturn, 2011 saw overall growth […]
Italy Facing Credit Rating Cut, but Not France
Posted January 10th, 2012 at 10:10 am (UTC-5)
A major financial services company says that Italy faces a “significant chance” of having its credit rating cut soon, but that it has no plans to downgrade France’s top credit standing. Fitch Ratings said Tuesday it is confident that the 17-nation European bloc that uses the euro will not break apart. But its sovereign ratings […]
Britain Says No Need for French Implant Removal
Posted January 6th, 2012 at 2:10 pm (UTC-5)
Britain’s government says it sees no need for the routine removal of breast implants made by French company Poly Implant Prothese, despite an international scare over the firm’s use of industrial rather than medical silicone. France, Belgium, the Czech Republic, and other nations have recommended that their citizens have the implants removed or monitored, saying […]
