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: Instapundit.comDEBT: ?Germany and France are among top- rated euro-area states that may compromise their AAA grade?
By Glenn Reynolds
DEBT: “Germany and France are among top- rated euro-area states that may compromise their AAA grades by standing behind the debts of weaker members with their 750 billion-euro ($955 billion) stabilization fund. The package is ‘making debt profiles deteriorate, potentially damaging the ratings of core sovereigns,’ said Stefan Kolek, a strategist at UniCredit SpA in Munich. ‘It?s a kind of Ponzi game at the highest level.’”
Full post as published by Instapundit.com on May 11, 2010 (boomark / email).
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