Italy and Spain debt downgraded
Friday 07 October 2011
The Italian and Spanish governments debt rating has been cut by credit rating agency Fitch.
Fitch says the outlook on Italy's long-term ratings is negative.
For Spain, Fitch cited risks of slow growth and high regional debt.
In its Italy report, Fitch said it was downgrading the government debt from AA- to A+.
It cited high public debt, low growth and the "politically technical and complex" solution necessary to fix Italy's financial ills and earn back the trust of investors.
It said the government's hesitant initial response to the crisis had eroded market confidence.
The move by Fitch came after Moody's Investors Service on Tuesday downgraded Italy's bond ratings to A2 with a negative outlook from Aa2.
- 1 Woman accidentally shoots herself in the head while posing for a selfie
- 2 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 4 Female Muay Thai champion hustles coaches to give them a beating
- 5 16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£35 - 40k + Benefits: Guru Careers: We are seeking a Software Developer (JavaS...
£18000 - £23000 per annum + Commission: SThree: As a Trainee Recruitment Consu...