Moody's Downgrades EU Outlook From 'Stable' To 'Negative'
Tuesday, 04 September 2012
Rating agency Moody’s has changed the European Union’s financial
outlook from 'stable' to 'negative', warning that the bloc's AAA rating
could also be downgraded, report the Huffington Post.
The change reflected the status of its largest members, Moody’s said in a statement.
They are all exposed to the debt crisis it added, insisting that “the
large AAA-rated member states would likely not prioritise their
commitment to backstop the EU debt obligations over servicing their own
debt obligations.” Details from Huffington Post