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Fitch downgrades Italy, Spain and three other euro-countries

27.01.12 @ 20:47

By EUOBSERVER

Fitch on Friday joined Standard&Poor's in downgrading Italy, Spain, Belgium, Slovenia and Cyprus, but kept France's triple A rating. The agency didn't rule out a disorderly Greek default, nor a break-up of the eurozone, but said both are unlikely. The euro-crisis will only end when the economy recovers, it added.