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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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Asian markets drop after German negative ratings watch

Asian stock markets mostly dropped today despite a sign China's manufacturing downturn has bottomed, as the possibility of a credit rating downgrade for Germany added to Europe's debt turmoil.

Global markets slid yesterday as Spain's borrowing costs soared, raising the risk that it will require a financial bailout that Europe probably cannot afford.

Moody's changing the outlook on Germany's credit rating to negative from stable dented faith in Europe's strongest economy and added to pressure on markets.

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