Fitch, a British credit rating agency, says that it doesn’t believe the Euro Crisis will be solved. Fitch cites Germany’s resistance to letting the ECB take over and print money. Because of this it is downgrading France from a AAA credit rating and putting other EU countries on a credit watch: Belgium, Spain, Italy, Slovenia, Ireland, and Cyprus.
Fitch is also critical that Germany doesn’t want to strengthen the European Stability Mechanism. He says this increases the divide between north and south in the Euro Zone and fans resentment. Austerity works for Germany but not for Greece.
Still the credit rating agency isn’t giving Germany free reign to solve the Continent’s budget problems. The whole world doesn’t think like an Anglo.
Fitch is also critical that Germany doesn’t want to strengthen the European Stability Mechanism. He says this increases the divide between north and south in the Euro Zone and fans resentment. Austerity works for Germany but not for Greece.
Still the credit rating agency isn’t giving Germany free reign to solve the Continent’s budget problems. The whole world doesn’t think like an Anglo.