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csmonitor.com 4 weeks agoThe beleaguered nations of Europe created a program called EFSF (European Financial Stability Facility) to help sovereign debt issuers and Euro Zone banks cope with the ratings agency cuts to their debt ratings and rising interest rates. But yesterday, the S&P downgraded the EFSF itself.
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What Countries Will Suffer Credit Downgrades Next?
abcnews.com 4 weeks agoWho's next? Nine European nations, including France and Italy, recently have seen their credit ratings cut. Greece's rating was reduced by Standard & Poor's to "CC" -- junk grade -- the lowest given by the rating service to any of the nations that it tracks. Both S&P and competing credit-rater Fitch say a Greek default now looks likely. In all the eurozone, only Germany, Europe's No.1 economy, retains an AAA rating.










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