Moody's: Crisis could affect credit rating of all EU countries

Rating agency Moody's has warned that the credit rating of all EU countries is threatened by the current financial crisis.

In a special commentary, the agency warned that in the absence of policy measures that stabilise market conditions, credit risk will continue to rise.

The agency has warned that the probability of multiple defaults by euro area countries is high.

The agency also cautioned that any defaults will "significantly increase" the likelihood of one or more members leaving the Eurozone.

It comes amid denials from the German finance minister that the german government is looking at setting up a core group of eurozone countries, separate from the rest.

Related Articles

Our goal should be creation of a sustainable economy AND a just society

Experts’ warning shot on surging growth

Spring Statement: "Over blown, over bearing and out of touch"

Irish Examiner' />A renewed economy - New car sales soar

More in this Section

50-year-old released after arrest in connection with Mark Gourley murder

17-year-old missing from Macroom

Leaders of the Easter Rising remembered on the 100th anniversary of their deaths

Two airlifted to hospital from Carrauntoohill


You might also like

Today's Stories

Irish Olympians urged to take precautions in Rio over zika outbreak

Indaver fortnightly analysis ‘will not protect residents’ from unsafe dioxin levels

Supporting Foxes from Cork ‘had highs and lows’

Cork-US flight objectors given more time

Lifestyle

The host with the most...Graham Norton has a busy schedule with the Baftas and Eurovision on his cards

Nicci Taylor is looking for life and love on the road

Should couples ask for cash as a wedding present?

Make sure your dream home doesn't become a nightmare

More From The Irish Examiner