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Moody's Cuts Cyprus' Debt Rating
Moody's has knocked the debt rating of Cyprus from A2 to Baa1. This represents a degradation of 2 notches, which will likely increase what Cyprus will have to pay on interest on future debts. Combined with a downgrade of Cyprus' expected growth, this latest move by the large debt rating agency is yet another fragment of bad news for both Cyprus and Europe as a whole.
Each debt rating decrease makes camisetas oficiales futbol it more difficult to pay back the debt that a country already has; this is because interest rates on government debt increase as the debt rating goes down. This makes it even less likely that Cyprus camiseta tottenham hotspur will be able to revive their economy, which, of course, makes it more likely the debt rating will be cut sometime in the future. It is a negative feedback loop.
Cyprus is yet another example that the European debt crisis is having far ranging effects. While Cyprus has a relatively small economy, every negative downgrade increases the chance that a bailout might be needed sometime down the road. Every economy that requires a costly bailout weakens the economies of the healthy European nations. This news, then, means that there is a slightly higher risk of camiseta villarreal a systemic inability for Europe to support its own currency.