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Crossover: How is Italy's downgrade linked to Greece's debt crisis?

09-21-2011 08:28 BJT

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Ratings agency, Standard & Poor's has downgraded Italy's sovereign debt rating, by one notch to A/A-1. Its outlook has been kept negative, but the new rating is still five steps above junk status... Full story>>

For more on the downgrade, we cross to our correspondent Richard Bestic, who is now in Athens,

1. We talk about downgrades a lot here, but putting it in perspective, this may be the most serious. Italy is by far the biggest eurozone economy to be slapped by one, and it comes just as the European debt crisis is gathering force. S&P now rates Italy's debt lower than either Moody's or Fitch, what's behind the move at this particular time?

2. How is Italy's downgrade linked to Greece's debt crisis? Will it accelerate that contagion to other eurozone countries we've been hearing so much about?

Editor:Li Wanran |Source: CNTV.CN

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