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 To help fuel their propaganda machine against the poor, our government has now decided to redefine the word 'welfare'
- 2 Tower Bridge glass walkway 'smashed' by night-time visitor dropping bottle of beer
- 3 Anti-gay hate preacher accidentally tweets 4,000 followers cartoon clip of him 'confessing' to be a 'homosexual sodomite'
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Grayson Perry: London needs affordable housing because 'rich people don't create culture'
Tower Bridge glass walkway 'smashed' by night-time visitor dropping bottle of beer
Anti-gay hate preacher accidentally tweets 4,000 followers cartoon clip of him 'confessing' to be a 'homosexual sodomite'
Woman opens professional cuddling shop – gets 10,000 customers in first week
Grayson Perry: London needs affordable housing because 'rich people don't create culture'
Isis propaganda image showing 'abuse of Muslim woman by soldiers' is actually taken from Hungarian porn film
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
Revealed: How the world gets rich – from privatising British public services
Rochester aftermath: Sacking of Emily Thornberry will make work of Labour MPs '10 times harder'
Excellent Salary: Austen Lloyd: CORPORATE - Corporate Solicitor NQ+ An excelle...
Voluntary Only - Expenses Reimbursed: Reach Volunteering: A trustee (company d...
£45000 - £65000 per annum: Recruitment Genius: This is a fantastic opportunity...
Negotiable: Recruitment Genius: This is an opportunity to join a successful an...