S&P cut the credit rating of nine eurozone countries yesterday

Nine eurozone countries have credit ratings cut by S&P

Friday 13th took on nightmare proportions for the eurozone as the euro debt crisis moved up a notch after Standard & Poor cut the credit rating of nine countries.

Fitch has warned that it may downgrade Italy's credit rating by the end of January

Fitch says Italy's credit rating likely to be downgraded

Rating agency Fitch warns that Italy is likely to be downgraded by the end of January citing its high debt and a lack of a plan to tackle the euro debt crisis.

Italy's borrowing costs halve - but ECB deposits show distrust among banks

Italy's borrowing costs halve – but ECB deposits show distrust among banks

There has been mixed news from the eurozone this week, with conditions easing for Italy but distrust appearing to grow between the banks of different countries.

The EU summit in Brussels takes place on Thursday and Friday 8/9th December 2011

Euro debt crisis – A summary of recent events

What's the latest in the Euro debt crisis? If you're looking for a quick summary of recent developments, click here.

The European Union has cut its growth forecast for the eurozone to just 0.5% for 2012

EU cuts eurozone growth forecast for 2012 to just 0.5%

The European Union has cut the growth forecast for the eurozone in 2012 from 1.8 per cent to just 0.5 per cent due to concerns over a lack of growth and another recession.

The yield on Italian bonds has passed the level deemed unsustainable

Italy on the brink as bond yield surges to unsustainable 7.4%

Yields on benchmark Italian 10-year bonds rose dramatically this morning despite Prime Minister Berlusconi's pledge that he will step down when budget reforms are passed.

Silvio Berlusconi has won an important parliamentary vote but doubts persist

Berlusconi will resign after budget reforms passed

The Italian Prime minister, Silvio Berlusconi has announced he will resign after budgetary reforms are passed over the next few weeks.

Italy is coming under increasing pressure over the euro debt crisis

Italy's borrowing costs rise close to bailout territory

The yield on Italian 10-year government bonds has risen to 6.66 per cent, a record level since the Euro was introduced in 1999, fueling concerns Italy may need a bailout.

A sale of ten-year Italian bonds saw Italy charged 6.06% to borrow

Italian debt reaches record level for euro era of 6.06%

Despite an agreement to contain the euro debt crisis being agreed this week the latest auction of Italian ten-year bonds saw Italy charged a record rate of interest.

Fitch has downgraded the credit rating of Spain and Italy

Fitch downgrades Spanish and Italian government debt

Credit ratings agency, Fitch, has announced that it is downgrading Italy and Spain's government debt because of the increased risk the euro debt crisis has bought.

Stock markets have not been heavily affected by the downgrade of Italy's debt rating

S&P's Italian downgrade does not affect markets in early trading

The downgrade of Italy's sovereign debt rating does not appear to have affected stockmarkets in early trading this morning.

The CEBR believes that Italy is likely to default on its debt

CEBR: Realistically, Italy is bound to default

The Centre for Economics & Business Research (CEBR) has sketched out "good" and "bad" outcomes for the economies of Italy and Spain and concludes that Italy looks set to default but Spain may avoid a default.

Stock markets have fallen amid concerns over Italy and Spain joining the euro debt crisis

Stock market plunges amid Italian and Spanish sovereign debt fears

Global stock markets have fallen amid concerns that yields on both Italian and Spanish bonds have increased to a level where the two countries may not be able to service their debts and require a bail-out.

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