MercoPress. South Atlantic News Agency
Fitch anticipates it will review ratings of six Euro zone states
Ed Parker, senior director of Fitch Fitch expects its ratings review of six Euro zone states will result in downgrades of one to two notches in most of those countries, senior director Ed Parker said at a Fitch conference in Madrid.
Fitch put Belgium, Spain, Slovenia, Italy, Ireland and Cyprus on negative watch late last year on Dec 16.
Fitch told the Euro zone at the time that it thought a comprehensive solution to the bloc's debt crisis is/was beyond reach.
Rating agency peer Standard & Poor's cut ratings on a swathe of Euro zone states earlier this month.
As for Spain, Parker said the review would take into account the new government's recent actions to cut costs and implement reforms, but said “there are continuing problems with the public finances and bank assets and the labour market is dysfunctional.”
Parker said the review would be concluded by the end of January.
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Read all commentsWell, New Labour came into powerj ust after that headline. Wasted billions and billions of the surplus they inherited from the Conservatives and then continued spending on credit thereafter.
Jan 20th, 2012 - 06:58 pm 0All spent on padding out the government so the new employees would vote for them thereafter (do turkeys vote for Christmas?).
That is the legacy of the NL years. We have now go to pay it back to get into the black.
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