05 Dec '11, 11pm

Standard & Poor's warns 15 euro zone members, including Germany and France, of possible downgrade

WASHINGTON (AFP) - Standard and Poor's on Monday placed Germany, France and 13 other euro zone members on a negative credit watch, warning that they could be hit with downgrades. 'Today's CreditWatch placements are prompted by our belief that systemic stresses in the euro zone have risen in recent weeks to the extent that they now put downward pressure on the credit standing of the euro zone as a whole,' S&P said in a statement. The warning threatened the AAA ratings of Germany, France, the Netherlands, Finland, Luxembourg and Austria. S&P said it would complete a review of euro zone sovereign ratings 'as soon as possible' following the European Union summit on Thursday and Friday on the region's economic crisis. Depending on the results of that summit, S&P said, 'we believe ratings could be lowered by up to one notch for Austria, Belgium, Finland, Germany, Netherlands, an...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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