Thursday, December 8, 2011

S&P may downgrade European Union, large euro-zone banks

[ Reuters ] 8 Dec

Standard & Poor's warned on Wednesday that it could cut the credit ratings of the European Union and large euro-zone banks if a mass downgrade of euro-zone countries materializes.

S&P said on Monday it may downgrade nearly all 17 euro-zone countries if EU leaders fail to agree on a solution for the region's debt crisis during Friday's summit.

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