(CNN) – News that in Italy, third largest economy in the euro area, has been downgraded by the credit rating agency Standard & Poor dealt another blow to hopes of a sustained recovery market Tuesday.
The second paragraph of the report of the S & P downgrade eloquent on the tumult of debt spread over the developed economies:
"Weaken the prospects of economic growth of the Italy in our opinion and we expect that the fragile ruling coalition of as the Italy and political differences in the Parliament will continue to limit the ability of Government to address critical internal and external macroeconomic challenges.".
It is a script ripped from the same page as the United States - the gold standard of solvency of the debt - when she watched his rating of debt reduced by S & P in August, as put partisan brinkmanship Washington close to the edge of defaulting on his credit card bill.
The drama of Greek debt will turn two years this December and still the Union European monetary appears in the absence of the direction for the chart a clear solution of the contagion of the debt that hit, Ireland, Portugal, Spain and Italy now.
During this time to the Japan, the third largest economy just elected its sixth Prime Minister in five years.
Italy recently turned to China to help the nation with his misadventures of debt, as well as the rest of the developed world seems to rest their hopes for a global recovery led by Chinese. But Chinese leaders have its own - problems as the Premier Wen Jiabao recently said to a group of business leaders that "the country must first before their own House."
A few weeks ago, the world of the media seemed prematurely praising Steve Jobs when he announced he was resigning as Apple CEO for health reasons. Since then, I had the Flaming Lips song "Waiting for Superman" in my head. In a certain way, watch a brilliant to take business leader of the decline of the company, he founded highlights how some leaders - in politics or business - truly inspire trust and confidence of the public.
As shown in the today decommissioning of the Italy, our expectation for a Superman to lead us out of the credit crisis may be more like "Waiting for Godot.".
View the original article here
0 komentar:
Posting Komentar