Related News
Moody's changes EU rating to negative
Source: Agencies |
September 5, 2012, Wednesday
|
Print Edition
Print Edition
Moody's Investors Service has changed its outlook on the Aaa rating of the European Union to negative, warning it might downgrade the bloc if it decides to cut the ratings on the EU's four biggest budget backers: Germany, France, the United Kingdom and the Netherlands.
The move will add to pressure on the European Central Bank to provide details of a new debt-buying scheme to help deeply indebted eurozone states at its policy meeting tomorrow.
Back in July, Moody's changed its outlook for Germany, the Netherlands and Luxembourg to negative as fallout from Europe's debt crisis cast a shadow over its top-rated countries. The outlook on France and the UK are also negative.
"The negative outlook on the EU's long-term ratings reflects the negative outlook on the Aaa ratings of the member states with large contributions to the EU budget: Germany, France, the UK and the Netherlands, which together account for around 45 percent of the EU's budget revenue," it said.
Moody's said the EU's rating would be particularly sensitive to any changes in the ratings of these four Aaa member states, implying that if it downgraded these four it might also cut the EU's rating. Likewise, it said the outlook for the EU could go back to stable if the outlooks on the four key Aaa countries also returned to stable.
The ratings agency also changed to negative the outlook for the European Atomic Energy Community.
The move will add to pressure on the European Central Bank to provide details of a new debt-buying scheme to help deeply indebted eurozone states at its policy meeting tomorrow.
Back in July, Moody's changed its outlook for Germany, the Netherlands and Luxembourg to negative as fallout from Europe's debt crisis cast a shadow over its top-rated countries. The outlook on France and the UK are also negative.
"The negative outlook on the EU's long-term ratings reflects the negative outlook on the Aaa ratings of the member states with large contributions to the EU budget: Germany, France, the UK and the Netherlands, which together account for around 45 percent of the EU's budget revenue," it said.
Moody's said the EU's rating would be particularly sensitive to any changes in the ratings of these four Aaa member states, implying that if it downgraded these four it might also cut the EU's rating. Likewise, it said the outlook for the EU could go back to stable if the outlooks on the four key Aaa countries also returned to stable.
The ratings agency also changed to negative the outlook for the European Atomic Energy Community.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
