Fitch Cuts Ratings of Five Eurozone Countries!
- The political/economic theatre continues. Do not believe all the MSM propaganda about a recovering US economy. The Illuminists are setting up the world for a global economic, financial and monetary collapse leading to World War 3. This world war will be triggered via the Greater Middle East War starting with the attack on Iran!
Fitch cuts ratings of five eurozone countries!
Fitch downgraded the credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain, indicating there is more than a 50pc chance of further ratings cuts in the next two years.
However Fitch left France’s AAA rating unchanged, despite rival Standard & Poor’s downgrade of the country earlier this month. In its statement, Fitch said these countries have near-term vulnerability to monetary and financial shocks. “Consequently, these sovereigns do not, in Fitch’s view, accrue the full benefits of the euro’s reserve currency status,” Fitch said.
Fitch cut Italy’s rating to A-minus from A-plus; Spain to A from AA-minus; Belgium to AA from AA-plus; Slovenia to A from AA-minus and Cyprus to BBB-minus from BBB, leaving that island nation just one notch above junk status. Ireland’s rating of BBB-plus was affirmed.
All six of the ratings were given negative outlooks. “The negative outlook on all six countries indicates a slightly greater than 50pc chance of a downgrade over a two-year time horizon,” the ratings agency said.
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