Thursday, May 17, 2012

Climateer Line of the Day: Eurodoom Edition

The Telegraph is doing a bit of a liveblog titled:
Debt crisis: as it happened May 17, 2012
Here's today's second-to-last-post:
18.39 Fitch added that ALL eurozone countries would be put on "Rating Watch Negative" if, "following the Greek elections Fitch assesses that the risk of a Greek exit from EMU is probable in the near term."
In layman's terms, this means that if a stable, pro-bail-out government is not formed after June's elections, there is a greater than 50pc chance that all eurozone countries could be downgraded within six months.