Germany's credit rating warning

Germany and the Netherlands have been put on negative ratings watch by Moody's. It is after increased fears about Spain's economy sent markets tumbling after news that the country was pushed deeper into recession and a step closer to a formal bailout

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Germany and Netherlands put on negative ratings watch

Germany and the Netherlands have been put on negative ratings watch by the credit ratings agency Moody's.

Both keep their AAA ratings for now, but they have been put on watch for potential downgrades because of the uncertainty around the euro and the increasing chance of a Greek exit.

Moody's also warn that politicians' "gradualist" approach to tackling the euro crisis means that they are not moving fast enough and it is likely to results in "series of shocks."

And yes, before you say it, ratings agencies' record are not exactly blemish free, but they still have influence, even though they are often playing catch-up on the markets.

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