Another look on the “Europe’s Debt” angle - WHAT EUROPE is reporting from the Financial Times:
By Daniel at 4 February, 2010, 1:57 pm
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“Moody’s warns US of credit rating fears
By Michael Mackenzie in New York and Gillian Tett in London
Published: February 3 2010 19:53 | Last updated: February 3 2010 19:53
…..Moody’s Investors Service fired off a warning on Wednesday that the triple A sovereign credit rating of the US would come under pressure unless economic growth was more robust than expected or tougher actions were taken to tackle the country’s budget deficit.
…..In a move that follows intensifying concern among investors over the US deficit, Moody’s said the country faced a trajectory of debt growth that was “clearly continuously upward”.
…..Steven Hess, senior credit officer at Moody’s, said the deficits projected in the budget outlook presented by the Obama administration outlook this week did not stabilise debt levels in relation to gross domestic product.
…..“Unless further measures are taken to reduce the budget deficit further or the economy rebounds more vigorously than expected, the federal financial picture as presented in the projections for the next decade will at some point put pressure on the triple A government bond rating,” the rating agency added in an issuer note.”
What is this, both sides of the Atlantic playing against each other? My debt is better than your debt? Sheeessshhh! You’re ALL BROKE!!!
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