Eurozone back in crisis again, it didn’t take long to hit the markets.
Up to 9 Eurozone countries supposedly downgraded by Standard and Poors, France loses it’s triple A rating which is bad news for it’s wealthy German wife as they need to stand together, the bail-out fund (forgotten the title) also loses it’s triple A rating meaning it has less money to bail-out countries if called upon, Portugal reduced to junk status. Greece on verge of defaulting (will they won’t they again).
All in all a right bloody mess 🙄
It’s all a bit dangerous too, as you can guess British banks are going to be heavily exposed if countries start defaulting. Already George has been blaming uncertainty in the Eurozone for poor prospects in the UK. Nervous times..
How long can Greece stay in the Euro? And if plans are made for Greece to pull out and use a devalued currency, how long before Italy, Portugal, Spain are forced to follow suit? Or will we just see an almighty explosion of the Euro? Crazy times.