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CREDIT RATER MOODY’S assigned the European Stability Mechanism, Europe’s new emergency fund, a triple-A rating this evening – but gave it with a negative outlook.
Moody’s cited the ESM’s expected low leverage, the credit-worthiness of the eurozone countries behind the ESM, and the fund’s preferred creditor status in giving it a top Aaa grade.
But Moody’s assigned its negative outlook to the €500 billion permanent bailout fund, putting it on an equal level with the ratings of all but one of the Aaa-rated eurozone countries, also listed with negative outlooks.
Moody’s warned that the deterioration of the credit-worthiness of euro member states could pull down the ESM’s rating.
“A weakening in the political commitment among euro area member states to the ESM could have negative rating implications,” Moody’s added.
The ESM was launched officially on Monday, Luxembourg Prime Minister and fund chairman Jean-Claude Juncker saying it “marks an historic milestone in shaping the future of monetary union.”
The fund was initially due to enter service on 1 July but, was delayed by a challenge at the German Constitutional Court.
It will initially hold €200 billion when the first installments of government capital are paid by the end of the month.
Juncker said the currency union, troubled for the last three years by massive sovereign and banking debts, had now “closed the gap in euro area institutions” with another element in “a comprehensive plan to reshape economic governance in the euro area.”
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From a suspected overdose of fake news
His doctor asked him “What Ailes ya?”
For all his flaws, his loved ones are in pain now. RIP.
This degenerate inflicted untold pain on thousands of people during his lifetime.
@Diarmuid: How so?
20 years of lying to and manipulating the American people… resulting in a stream of toxicity and hatred being directed at minorities… all the further the Murdoch agenda.
@Diarmuid: Not all americans, Only the stupid ones.
convenient timing as Fox are under investigation by the sec because of illegal reporting of payments to women he harassed.. despicable man
@Shane Hickey: 2nd post – link(s)?
@Shane Hickey: You appear to be saying that the timing of his death was intentional. Would you mind elaborating? Thanks.
@Neal Ireland Hello.: Appearances are sometimes deceptive,just like Soles appeared like a nice guy to some people.
Fox News – for all it’s faults – is an awful lot better than RTE¡
@Fank Pulman: obviously you haven’t watched Fox News much if you are making a comment like that. Most biased network in USA.
@Cormac: Rubbish…lived in LA and Florida – many worse there m8…
@Cormac: CNN, MSNBC are as biased to the left as Fox are to the right.
@Darren: whilst the bias is real on both sides, Fox News is incredibly biased to the point if you watch it’s actually hilarious. I have tears in my eyes at how pathetic it is.
CNN whilst certainly left biased is nowhere near the level Fox is at. Not only is it bias but it’s literally absurd
At least he lived long enough for some karma to kick him in the ass.
Why, what did he do? Or do you even know
@Flip off: I’m not here to educate you. How about you “flip off” and do it yourself.
@Tricia Golden: You don’t know anything about him, do you?
@Fank Pulman: he was a disgusting pervert who destroyed careers of women who wouldn’t comply with his harassment.
What was he convicted of, exactly?
@Neal Ireland Hello.: what was Hitler convicted of?
@Shane Hickey:
Thought you were talking about Bill Clinton for a second.
Ha ha. You’ve no idea what he did. You just see old, rich, white and fox. Yep, he should have been executed years ago
Fake news
Was he a jew?
@Gerard Hutch: when’s the next kinahan hit ger?
Seriously? He still had a wife after all he did?
He was a disgusting pig.
Fox News is great. Fair and Balanced. RIP To Ailes’ family. He was not convicted of anything. It seems to me he was sued for flirting, which according to the Left now constitutes “sexual harrassment”.
RIP Roger
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