By DeusExMacintosh

S&P reduces Italy's credit rating

Italy has had the rating of its creditworthiness cut, the latest move in the European debt crisis.

Standard and Poor’s cut its rating by one level to A from A+, and said the outlook remained negative. The agency said weak growth may limit Rome’s ability to cut state spending and bring its finances in order.

Markets shrugged off the decision, while Italian Prime Minister Silvio Berlusconi said the move was influenced by “political considerations”.

Mr Berlusconi said the downgrade had been dictated more by stories in the media than by economic reality.

BBC News


  1. Posted September 20, 2011 at 7:48 pm | Permalink

    A DEM gem 🙂

  2. Patrick
    Posted September 20, 2011 at 8:20 pm | Permalink

    very funny in a pretty sad way!

    Of course markets shrugged it off it was already trading another rating or two below that last week!

  3. Andy McNABB
    Posted September 21, 2011 at 8:51 am | Permalink

    Just to say what a fine blog we have here.
    I was interested to see if you would take up the RISE OF INDIVIDUALISM as a topic.

    Bernard Salt recently wrote a fine piece:

    What are we going to do with all the experts we have today ?

  4. Andy McNABB
    Posted September 21, 2011 at 8:53 am | Permalink

    Lets try that link again:



  5. Posted September 21, 2011 at 9:18 am | Permalink

    Okay I didn’t even read it, I just saw the balloon and cracked up. Brilliant!

  6. kvd
    Posted September 24, 2011 at 8:41 am | Permalink

    Knock knock Hope you’re feeling better LE? 😉

  7. kvd
    Posted September 25, 2011 at 1:21 pm | Permalink

    Very good LE! I was about to suggest one of my grandmother’s recipes. Plus rum, of course 🙂

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