|Author (Person)||Milne, Richard|
|Series Title||Financial Times|
Standard & Poor’s cut Italy’s credit rating on the 20 September 2011 in a move that sent stock markets and the euro lower and underlined how the eurozone’s third-largest economy is being sucked deeper into the eurozone sovereign debt crisis. The agency named economic, fiscal and economic weaknesses as the reason for the downgrade.
Italian Prime Minister Silvio Berlusconi reacted swiftly and angrily to the credit downgrade denouncing the move as divorced from reality and politically motivated.
|Countries / Regions||Italy|