When Standard & Poor’s cut its credit rating on the United States to AA-plus from AAA back in August, the agency was vilified and the decision called “absurd” among other names. Now Fitch ratings also threatens its highest grade of American credit. This company already changed its outlook to negative from stable last month after [...]

According to Klaus Regling, the chief of the European Financial Stability Facility, the sovereing debt crisis has already consumed a staggering amount of money. To date, more than 1 trillion Euros had already been spent on trying to solve the problem and the figure is to become much higher. Greece alone will need additional 100 [...]

Not much happened on Friday in terms of decisive moves by currencies. In spite of a torrent of downgrades, negative outlooks and other threats from rating agencies, markets did not come under pressure. By now these announcements have become so ubuquitous, that it will take a downgrade of France, or maybe even Germany to cause [...]