The Independent (April 28)
Europe’s equivalent of the “sub-prime” is fast reaching a point of no return. Greece and Portugal both received new credit rating downgrades. The Independent urges the European Union (EU) and the International Monetary Fund (IMF) to “redouble their efforts” because “every day that a deal for Greece is not forthcoming is another day in which the eurozone’s crisis will spiral further out of control.” Each day increases the risk that more European countries will become “basket cases.”
Europe’s equivalent of the “sub-prime” is fast reaching a point of no return. Greece and Portugal both received new credit rating downgrades. The Independent urges the European Union (EU) and the International Monetary Fund (IMF) to “redouble their efforts” because “every day that a deal for Greece is not forthcoming is another day in which the eurozone’s crisis will spiral further out of control.” Each day increases the risk that more European countries will become “basket cases.”
Tags: Credit rating, EU, Europe, Greek crisis, IMF
