Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

European Union Loses Aaa Rating From S&p On Weaker Cohesion

Recommended Posts

http://www.bloomberg.com/news/2013-12-20/european-union-loses-aaa-credit-rating-at-s-p-on-weaker-cohesion.html

The European Union lost its top credit rating from Standard & Poor’s, which said the group’s cohesion has weakened and its financial profile has deteriorated.

S&P cut its long-term rating on the EU to AA+ from AAA and maintained its short-term rating at A-1+. The outlook is stable, the company said in a statement today. “The downgrade reflects our view of the overall weaker creditworthiness of the EU’s 28 member states,” S&P said.

The reduction follows ratings cuts in recent years on EU members including France, Italy and Spain, as a sovereign-debt crisis roiled the region. The average rating of net contributors to the EU budget has fallen to AA from AA+ since January 2012, when S&P revised its outlook on the long-term EU rating to negative, the company said.

“We believe the financial profile of the EU has deteriorated and that cohesion among EU members has lessened,” S&P said. “EU budgetary negotiations have become more contentious, signaling what we consider to be rising risks to the support of the EU from some member states.”

Europe has never been coherent.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   211 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.