European Union Stripped of AAA Credit Rating at S&P (Dec 2013)

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Source: Bloomberg – European Union Stripped of AAA Credit Rating at S&P

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The European Union lost its top credit rating from Standard & Poor’s, which cited the deteriorating creditworthiness of the bloc’s 28 member nations.

S&P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&P last month lowered its AAA rating on the Netherlands.

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Cracks in Finland’s ‘Triple A’ image (Oct 2013)

Debt-Bomb

Source: CNA – Cracks in Finland’s ‘Triple A’ image

Notable excerpts:

Finland’s image as an island of fiscal virtue in an ocean of European profligacy has eroded to the point that many ask if it can keep its stellar credit rating.

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Danes With World-Beating Debt Loads Prepare To Dig Deeper (Oct 2013)

Debt-Bomb

Source: Bloomberg – Danes With World-Beating Debt Loads Prepare To Dig Deeper

Notable excerpts:

Danish households, which already have the world’s biggest debt load relative to incomes, are about to use a real estate recovery to go further into the red.

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Scandinavia’s Weakest Nation Finds Welfare Habits Too Costly (Aug 2013)

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Source: Bloomberg – Scandinavia’s Weakest Nation Finds Welfare Habits Too Costly

Notable excerpts:

Scandinavia’s weakest economy can no longer afford the kinds of entitlements its citizens were raised on, according to Danish Finance Minister Bjarne Corydon.

“We live in a world of global competition for jobs,” the 40-year-old minister said in an interview in Copenhagen. “For any finance minister wanting to be taken seriously, it’s something to deal with. That requires a modernization of the welfare state.”

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