Moody's ratings agency on Friday (30 November) downgraded the eurozone's two bailout funds following a recent similar move on France, the second-largest contributor to the rescue funds.
The European Stability Mechanism, a permanent €500 billion-strong fund established on 9 October, was downgraded to Aa1 - the second-best available rating. Its predecessor - the European Financial Stability Facility due to be phased out next year - was downgraded to a "provisional" Aa1. Further downgrade...
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