Wave of Downgrades Moody's Delivers Damning Verdict on Euro Zone

The ratings agency Moody's has downgraded six euro-zone members, including Italy, Spain and Portugal, and warned that France, Britain and Austria may lose their triple-A rating. The agency said its decision was based on the "growing risks" caused by Europe's ongoing debt crisis.
A trader at Frankfurt Stock Exchange (August 2011 photo). Moody's has downgraded a raft of euro zone countries.

A trader at Frankfurt Stock Exchange (August 2011 photo). Moody's has downgraded a raft of euro zone countries.

Foto: dapd
dgs -- with wires