Moody's says Germany's AAA credit rating at riskJuly 24, 2012 - 13:22 AMT PanARMENIAN.Net - Credit ratings agency Moody's has warned the outlook for Germany's AAA credit rating is negative, the first step towards a possible downgrade, according to BBC News. Moody's said the country was at risk from the increased likelihood of a Greek exit from the euro and the need to provide more support to Spain. Concerns are growing that Spain will have to seek a full bailout. The Netherlands and Luxembourg - both AAA rated economies - were also put on negative watch. A negative outlook posting from Moody's, one of a handful of agencies that assess the creditworthiness of borrowers, reflects a higher risk that the actual rating will be cut at some point in the next two years. France and Austria lost their AAA ratings earlier this year. Moody's said there was an increased chance that Greece could leave the eurozone, which "would set off a chain of financial sector shocks". It added that policymakers could only contain these shocks at a very high cost. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |