Friday

29th Mar 2024

Ticker

Rating agency warns of UK downgrade

Moody’s has assigned a “negative” outlook to Britain’s Aa1 credit worthiness after the EU vote, indicating a potential downgrade to come. It said the years-long extraction process from the EU would create “heightened uncertainty, diminished confidence and lower spending and investment” resulting in “weaker growth”. Standard & Poor’s, which still gives the UK the top-level AAA grade, warned prior to the vote this would likely fall if the UK leaves.

Read and decide

Join EUobserver today

Get the EU news that really matters

Instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

Join EUobserver

EU news that matters

Join us