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

Experts’ warning shot on surging growth

Central Bank raises economic forecast; says no new fiscal policies needed to boost activity

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

New car sales speeding ahead

More in this Section

No Lotto winner - jackpot heads for €4m

At least six thought to be involved in shooting with 'massive guns' that left dead man 'riddled with bullets'

Third opinion poll shows fall in support for Coalition while independents rise

Woman dies after car is involved in collision with a truck


You might also like

Today's Stories

US route ‘very important’ to Cork

Regency shooting ‘couple’ in unexpected close-up

Jewish worship in Cork ends as synagogue shuts

David takes marathon relationship up a gear by proposing after Clonakilty run

Lifestyle

Chinese New Year: In the year of the monkey

Share, share alike: How social media has replaced the traditional diary

Thomas Lynch uses the living and the dead to inspire his poetry

This much I know: KC

More From The Irish Examiner