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Debt Refrain: Germany calls the tune of last hope

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Xicano Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 06:09 PM
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Debt Refrain: Germany calls the tune of last hope
Run time: 03:52
Posted on YouTube: December 06, 2011
By YouTube Member: RussiaToday
Views on YouTube: 302
Posted on DU: December 06, 2011
By DU Member: Xicano
Views on DU: 571

The euro's time is almost up - so says one of the big three credit rating agencies as it prepares for a mass eurozone debt downgrade. S&P's announcement shook international markets, with investors cutting and running on European holdings.

Especially worrying for them this time is that even Germany, seen as the EU's backbone, is not being spared. Standard & Poor's justified its decision by pointing out the bloc's consistent failure to stem its debts, even as nations saw their bond interest rates rocket.

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