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 U.K., and the Netherlands.
The move will add to pressure on the European Central Bank (learn more) to provide details of a new debt-buying scheme to help deeply indebted euro zone states at its policy meeting on Thursday.
The move will add to pressure on the European Central Bank (learn more) to provide details of a new debt-buying scheme to help deeply indebted euro zone states at its policy meeting on Thursday.
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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 U.K.
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 U.K., and the Netherlands, which
together account for around 45 percent of the EU's budget revenue,''
the ratings agency said.
Read more: http://www.cnbc.com/id/48888752
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