- Prison Planet.com - http://www.prisonplanet.com -
Moody’s cuts French banks as euro crisis deepens
Posted By admin On September 14, 2011 @ 3:27 am In Money Watch | Comments Disabled
Don Durfee and Noah Barkin
Sept 14, 2011
Moody’s Investors Service cut the credit ratings of France’s Credit Agricole SA and Societe Generale on Wednesday, citing their exposure to Greece’s debt, a fresh blow to euro area leaders struggling to restore confidence in the region.
The ratings agency left BNP Paribas on review for a ratings downgrade saying the bank’s profitability and capital base provides adequate cushion to support its Greek, Portuguese and Irish exposure.
In a sign of the international alarm over the crisis, China and the United States urged Europe’s leaders to prevent the euro area debt mess — now threatening Italy  — from spreading.
President Barack Obama urged “more effective coordinated fiscal policy” by the euro area states. Chinese Premier Wen Jiabao said Beijing was willing to help its biggest trading partner, but added that Europe must stop the crisis from growing.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/moodys-cuts-french-banks-as-euro-crisis-deepens.html
URLs in this post:
 Reuters: http://www.reuters.com/article/2011/09/14/us-eurozone-idUSTRE78B24R20110914
 Italy: http://www.reuters.com/places/italy
 Euro in danger as the Greek crisis deepens and Merkel admits currency is at risk: http://www.prisonplanet.com/euro-in-danger-as-the-greek-crisis-deepens-and-merkel-admits-currency-is-at-risk.html
 Eurozone Debt Crisis Deepens Sending Euro Lower And Gold To New Record At EUR 1,080/oz: http://www.prisonplanet.com/eurozone-debt-crisis-deepens-sending-euro-lower-and-gold-to-new-record-at-eur-1080oz.html
 Who’s running Europe? Now Obama pressures Spain over cuts after whispers he advised Merkel on saving the euro: http://www.prisonplanet.com/whos-running-europe-now-obama-pressures-spain-over-cuts-after-whispers-he-advised-merkel-on-saving-the-euro.html
 Traders splash £5 billion betting against the euro as the single currency falters amid debt crisis: http://www.prisonplanet.com/traders-splash-5-billion-betting-against-the-euro-as-the-single-currency-falters-amid-debt-crisis.html
 Geithner urges unity in euro zone crisis: http://www.prisonplanet.com/geithner-urges-unity-in-euro-zone-crisis.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.