- January 17, 2012
Standard and Poor's has downgraded the European bailout fund, the EFSF, following last week's downgrade of nine euro-zone members. European politicians are doing their best to exude calm. German observers argue that the messenger shouldn't be blamed for bad news. more... [ Comment ]
- January 16, 2012
Several German politicians have reacted angrily to the decision by Standard and Poor's to downgrade the ratings of nine euro-zone member states on Friday, complaining that the euro is "under attack." German commentators scoff at the idea on Monday, but say that the agencies have too much power. more...
- January 14, 2012
With Standard and Poor's decision to punish nine euro-zone countries with downgrades and to strip France and Austria of their AAA ratings, Germany is likely to face additional burdens in the euro bailout fund in order to ensure cheap lending to save the common currency. Some are calling for Chancellor Angela Merkel to abandon plans for a tax cut in Germany. more...
- January 13, 2012
In a major setback for euro rescue efforts, reports on Friday emerged that ratings agency Standard and Poor's was likely set to downgrade the credit ratings of France and other European Union nations. Following the news, the value of the euro fell sharply. more...
- December 29, 2011
As the former head of Deutsche Bank, Hilmar Kopper was once the most powerful banker in Germany. In an interview with SPIEGEL, the 76-year-old takes stock of his career and the current crisis shaking Europe. The three main constants he has seen in the world, he says, are "money, avarice and greed." more... [ Comment ]
- December 06, 2011
Ratings agency Standard and Poor's has piled pressure on EU leaders to come up with a deal to save the euro, warning that it may downgrade 15 of 17 euro-zone countries -- including powerhouse Germany. EU politicians have criticized the move. But the agency on Tuesday added that it may downgrade the euro bailout fund as well. more...
- November 15, 2011
The recent downgrade by Standard & Poor's may have been an error, but France is unlikely to be able to hold on to its top credit rating for much longer. The country's financial data indicates a loss of its AAA mark is likely in the not-too-distant future -- something that would spell yet more bad news for Europe. more... [ Comment ]
- November 11, 2011
The French finance minister has reacted angrily to a credit-rating gaffe by Standard and Poor's. The agency accidentally sent out an email suggesting that France had lost its triple-A rating. Many are asking how the firm could have made such an embarrassing slip-up at a time when markets are especially jittery. more... [ Comment ]
- October 20, 2011
Ratings agency forecasts are throwing entire countries into financial crises by driving up interest rates on bonds. Now the EU is considering a ban on ratings for countries that are in the process of negotiating economic bailout packages. more...
- October 17, 2011
Top German economists are warning that France's AAA rating could be in danger should additional measures become necessary to prop up indebted euro-zone members or to save ailing banks. With debt relief for Greece under discussion, it may be a question of when, not if. more...