Moody's downgrades Cyprus deeper into junk
By MENELAOS HADJICOSTIS Associated Press NICOSIA, Cyprus - International credit rating agency Moody's drove Cyprus deeper into junk on Thursday with a three notch downgrade from B3 to Caa3 over concerns that the country may ultimately default on its burgeoning debt level.
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#1 Jan 11, 2013
The politicization of International finance serves only to integrate Europe ever tighter into a fiscal union.
Here, we see the same severe treatment from the ratings agencies that was dished out to Greece.
Greece and Cyprus shall integrate into Europes reformed financial institutions on the basis - there are no other safe alternatives.
#2 Jan 11, 2013
Death by a thousand cuts
#3 Jan 11, 2013
moodys just want to keep their jobs ..........so they dont downgrade themselves for been a waste of money of useles unnecessary jobs..........
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