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Fitch: ECB must do more to save euro

01-12-2012 10:09 BJT

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Rating agency Fitch warns, the economic outlook for the eurozone has darkened in recent months. Fitch is urging the European Central Bank, to ramp up purchases of eurozone debt to support Italy, and prevent a "cataclysmic" collapse of the common currency.

Fitch’s head of sovereign ratings says if Italy doesn’t make it through the crisis, the euro is unlikely to survive. David Riley also notes, the ECB has plenty of scope to expand its balance sheet.

On Greece, he says the country remains the "joker in the pack" and stands as a major threat.

But aside from all the doom and gloom, Riley says he doesn’t expect to strip France of its coveted triple A rating - for this year at least. That’s in contrast to fellow rating agency Standard & Poor’s, which put France on notice for a rating cut.

 

Editor:Zhang Rui |Source: CNTV.CN

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