Moody's cut EU credit rating

04-09-2012

The credit ratings agency, Moody's, has lowered its assessment of the European Union's long term credit outlook from stable to negative. The agency said the change reflected the negative outlook for some of the EU's main budget contributors, including Germany, France and Britain. Moody's also warned that a weakening of the commitment of member states to the EU would have a negative impact on the organisation's credit status.

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