CNBC, a cable network specializing in business news,
reports Standard & Poor's has downgraded government debt in Europe. The article says:
S&P lowered its long-term rating on Cyprus, Italy, Portugal and Spain by two notches, and cut its rating on Austria, France, Malta, Slovakia and Slovenia by one notch.
That's today, looking to the future of Europe:
The credit-rating agency put all 14 euro-zone nations — Austria, Belgium, Cyprus, Estonia, Finland, France, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovenia, and Spain — on "negative" outlook for a possible further downgrade. Germany was the only country to emerge totally unscathed with its triple-A rating and a stable outlook.
