| Author (Person) | Wiesmann, Gerrit |
|---|---|
| Series Title | Financial Times |
| Series Details | 14.1.12 |
| Publication Date | 14/01/2012 |
| Content Type | News |
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Article reports on negative developments for the eurozone on the 13 January 2011: 1. Standard & Poor’s, the credit rating agency, downgraded France and Austria, two of the eurozone's six triple A creditors, and seven other eurozone countries. 2. Debt-restructuring talks between Greece and holders of its debt broke down over how large bondholders’ losses should be, raising the spectre of a Greek default in March 2012. 3. The European Central Bank chastised the draft of a new fiscal discipline treaty for the euro area, saying that the latest version amounted to 'a substantial watering-down' of tough deficit levels that could allow 'easy circumvention of the [deficit] rule' by struggling governments. European leaders reacting to the Standard & Poor's credit downgrade of nine eurozone members did not hold back with their criticism on the 14 January 2012, saying the decision was 'inconsistent' and 'incomprehensible'. On the 16 January 2012 rival ratings agency Moody's said it was maintaining France's top AAA credit rating for now. |
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| Countries / Regions | Austria, Europe, France |
