Moody's rating agency has downgraded the eurozone rescue fund, the ESM, in the same week that Greece has gotten more bailout money and France's rating was cut. More trouble ahead for the eurozone?
Ratings agency Standard & Poor's has removed the UK's coveted top credit rating status because of its vote to leave the European Union. S&P was the last of the big three credit assessment agencies to do so.
The AA credit rating is still the rating agency's third highest level. The rating agency cited fiscal uncertainty over the UK's vote to leave the EU.
After Greece adopted a new set of reforms, eurozone finance ministers have closed in on a deal to unlock vital cash for Athens. Debt relief was discussed, setting the stage for a showdown between the IMF and Germany.
Italian finance professor Claudio Zara calls for flexibility in eurozone rules covering government-financed bailouts in cases where banks' bad-debt burdens were largely caused by economic downturns - as in Italy.
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