What a day, I wake up to the news that Fitch has downgraded Portugal, leading to a strong sell-off in Euro–reaching a ten month low against the dollar. This news was not tremendously surprising, and I expect the situation in Europe will get far worse before getting better, especially if Greece doesn’t find a funding […]
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Fitch
EU Commissioner Joaquín Almunia Mira recently said that he believes the current situation is the most difficult situation the EU has ever faced, and that Thursday’s meeting will be critical. He also said EU leaders have indicated that they will support Greece. Fitch anticipates that a Greek plan is ‘achievable’, but not ‘a given’. Fitch’s […]