The Dollar is sick, but is the Euro on death's door?
Moody's on Monday downgraded the debt ratings of Italy, Spain and Portugal and placed negative outlooks on France, Britain and Austria. Ratings were also cut for Slovenia, Slovakia and Malta, with Moody's saying all nine were more susceptible to increasing financial and macroeconomic risks from the euro area crisis.
Moody's said that Europe's weakening economic prospects "threaten the implementation of domestic austerity programs and the structural reforms that are needed to promote competitiveness."
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