- Reaction score
Standard & Poor's late Monday placed sovereign ratings on 15 euro-zone countries on CreditWatch negative which could result in a downgrade in the next few months. "Today's CreditWatch placements are prompted by our belief that systemic stresses in the eurozone have risen in recent weeks to the extent that they now put downward pressure on the credit standing of the eurozone as a whole," the ratings agency said in a statement. The fifteen euro-zone countries include the six triple-A rated countries of France, Germany, Austria, Finland, Netherlands, and Luxembourg. ...
Translation: No bailout for the PIIGS!