Moody’s issues warning on rising danger from Euro crisis

Chastising politicians for failing to act until their hands were forced, Moody’s warned that the European debt crisis could force several nations to default on their debt and depart the currency union, reports the New York Times.

While Moody’s said their belief is “that the euro area will be preserved without further widespread defaults,” it warned that “the political impetus to implement an effective  resolution plan may only emerge after a series of shocks, which may lead to more countries losing access to market funding.”

Read Moody’s announcement for additional details.

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