FOCUS SHORT

European sovereign ratings lowered

AS LEADERS of the eurozone were looking to hammer out a bailout deal for Greece, credit rating agencies lowered their ratings for several European nations.

AS LEADERS of the eurozone were looking to hammer out a bailout deal for Greece, credit rating agencies lowered their ratings for several European nations.

On February 14 Moody's downgraded Italy and Spain to A3 while Portugal's rating fell to Ba3.
Slovakia, Slovenia and Malta were also downgraded while France, Britain and Austria were put on a negative outlook.

In other words, there is a 30 percent probability that the latter three nations could face a downgrade within the next 18 months.

Moody's rating change was received with a gloomy response in Britain, which tends to portray itself as a safe haven and a country at the receiving end of the Eurozone crisis.

Both the timing and the motives behind Moody’s actions were widely questioned, as was its credibility and that of other rating agencies.

Critics pointed out that the most watched countries were in the process of implementing necessary budget cuts and the eurozone outlook was slightly improving.

Fitch also downgraded the ratings of Spain (A), Belgium (AA) and Italy (A-) in February following its downgrade of five countries in January.

Standard & Poor's downgraded nine eurozone countries, including France and Austria, in January.

Top stories

Illustrative stock photo

First Delta variant confirmed in Slovakia

The labs confirmed the strain in a positive sample from a person who returned from Russia.


6 h
Trnava

Several antigen testing sites will close in the summer. But tests will still be needed

The testing sites might be kept in hospitals, policlinics and similar medical facilities.


6 h
Items offered within the City Bazaar held last October.

Bratislavans can bring still usable items they no longer need to the City Bazaar

Bratislava and municipal waste collection company organising a collection to help households get rid of unused items and simultaneously raise money for a reuse centre.


24 h

News digest: Central bank calling vaccination pace more important than that of GDP growth

Police announced strict border checks for tomorrow. Ministry analysts revised their GDP growth prognosis. Employees of U.S. Steel in Košice threaten a strike.


23 h