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Moody's downgrades eurozone bailout fund

07-25-2012 13:37 BJT

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Moody’s has lowered to "negative" its top triple-A rating on some of the European Financial Stability Facility’s long-term debt.

The move comes a day after the ratings agency lowered the outlook for its ratings on Germany, the Netherlands and Luxembourg. European leaders had agreed at a summit last month the fund will funnel money directly to distressed banks, rather than governments - once an effective European banking supervisor is set up. Germany has a large stake in the $532 billion rescue fund.

The German government has downplayed Moody’s decision, saying the risks cited by Moody’s aren’t new and are largely based on a short-term assessment.


Editor:Zhang Jingya |Source: CNTV.CN

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