S&P downgrades
France to AA+
Italy and Spain
Cut two notches
Germany still AAA
Not a death knell
But EFSF fund
Could be cut too
Markets muted
Dow down 0.4%
Stoxx down 0.3%
Euro at 18 mth low
Meaning for NZ?
NZ$ to 62 euro cents
Less than 10%
Good for importers
Greek debt talks
Collapsed on weekend
Default more likely
Then euro exit?
NZ fuel prices up
Despite higher NZ$
Nigerian strikes
Iranian tension
greece will get its next tranche. they will justify it somehow.
germany's exports can't sustain a greek departure from the euro.
apagoogoo 1 month ago
Is the sinking of the Costa Concordia a portent. ?
fluentread 1 month ago