Ratings cut threat to Euro states

Several euro countries, including Italy, could see their credit ratings downgraded by the end of this month as they struggle to cope with too much debt.

Fitch Ratings head of sovereign ratings David Riley said the agency will give its verdict on several countries by the end of January. It currently has Ireland, Italy, Spain, Belgium Slovenia and Cyprus on so-called “ratings watch negative” and Riley said the reductions could be up to two notches.