Italy credit downgraded, French banks pressured

(Reuters) – Standard & Poor’s cut Italy’s credit rating on Tuesday in a surprise move that increased strains on the debt-stressed euro zone and raised pressure on policymakers to take more decisive action to resolve the crisis.

Analysts said the one-notch downgrade, citing poor growth prospects and
political instability, was ominous for the global economy and would add to
mounting strains on European banks.  Read more

Categories: Economics, United States

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