EU members ratings are at risk

International rating agencies seriously took up the revision of the ratings of the European Union countries. Before the news about the reduction of the rating of Greece by the Fitch agency, how the new step, took the new step, took the Standard & Poors agency, taking negative rating actions against another EU country - Spain, the IFX.ru business online newspaper writes.

The Standard & Poor's International rating agency has changed the forecast for Spain’s ratings to the “negative” CO “stable”, noting concerns regarding the state of state financials, the publication writes with reference to Bloomberg information. In January, the Spanish rating was reduced to "AA+" from the highest level "AAA".

According to S&P experts, the country may face "a more obvious and long deterioration in state financials and a longer period of economic weakness compared to other countries" than expected in January.

The deterioration in the country's ratings led to an increase in fears regarding the increase in the number of defaults in the global economy and negatively affected the mood of the participants in the stock market. After all, the rating action of S&P laid down on the "fertile ground." On the eve of the Fitch rating agency reduced the long -term ratings of Greece by one step - from “A-” to “BBB+”, noting anxiety regarding forecasts for public finances in the medium term. Then Standard & Poor's placed the Greece rating "A-" to revise with a "negative" forecast.

“What we are afraid of is the deterioration of the ratings of other states,” said Arno Skarpachi, the AGILIS GESTION, the AGILIS GESTION manager in Paris. “Investors do not want to take risks at the end of the year, so they sell promotions against any bad news.” And now it becomes clear that the expert’s fears may well come true.

IFX.RU recalls that the Minister of Finance of the Russian Federation Alexei Kudrin recently spoke of the level of debt burden of developed countries. “Over the next two or three years, we will have a total debt of the European Union countries more than 100%, the United States will also be about 100% of the debt to GDP. Italy and Japan were already significantly higher,” the head of the Ministry of Finance said on Tuesday. He also noted that "we will have a new situation in the market of sovereign debt and capital, the stability of the market will depend on the new policy of the countries and their caution."