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Italy Braced For Downgrade by Standard & Poor's

Description:Italy braced itself for a further downgrade by credit rating agency Standard & Poor's today. A senior euro zone government official told Reuters that several European countries would be downgraded by the U.S. based agency later in the evening. Germany and the Netherlands were not expected to be downgraded. Reuters Chief Economics correspondent Gavin Jones commented on the matter. Italy's three-year debt costs fell below 5 percent today, but its first bond sale of the year failed to match the suc (2:54)

Source: IBTimesTV

Tags: Italy Braced For Downgrade by Standard & Poor's , europe debt , europe economy , European economy