Italy

Downgraded


Published

Standard and Poor have downgraded Italy from A+ to A. The credit rating agency has decided that the reforms recently passed by parliament were not enough and not expected to help solve Italy’s debt problems. They also felt that prospects for economic growth in Italy were getting weaker.

Many newspapers are reporting that this will affect the eurozone’s attempts to recover and will spread the fears about possible further contagion. Expect the markets to fall on this news.

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