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Deutsche Bank Downgrade?
The euro zone hardly needed a reminder of the necessity for urgency as it searches for a strategy to contain its ongoing debt crisis. But that's what it got this week. Standard & Poor's announced on Friday that it was downgrading Spanish debt by a notch, joining the ratings agency Fitch, which slapped both Spain and Italy with negative marks last week. "These institutions' business models," said Fitch in a statement, "are particularly sensitive to the increased challenges the financial markets are facing." Joining Deutsche Bank on Fitch's list of banks that may face a downgrade in the near future are Bank of ... (full story)