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Italy Credit Warning Adds Pressure on Euro
The flood of bad news around the Euro-zone debt crisis continues: S&P revised Italy’s outlook to negative. Italy is the Euro-zone’s third largest country. Will Trichet delay the next rate hike? Updates on 5 troubled countries: Italy: S&P waited until the markets closed to revise the outlook to negative. The rating was left unchanged now. With growing debt, no efforts to tackle it and very weak growth of 0.1% in Q1, the Euro-zone’s third largest country is in trouble as well. This is serious. Spain: The Euro-zone’s fourth largest country saw protests in over 300 towns and cities. Protesters want “real ... (full story)
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