While hanging in the parliament with just a single vote majority, the Italian Prime Minister 
Romano Prodi mustn’t have expected in his wildest dreams that the international ratings agencies will add to his woes. But for unfortunate Prodi, it did happen. World’s two most renowned credit rating agencies – Standard & Poor’s (S&P) and Fitch – on October 19 declared of cutting down Italy’s credit ratings, citing the country’s insufficient measures to control debts and deficits as prime reason. And the result is anything but welcomed, as the Italian interest cost is bound to soar further from current 107% of GDP.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative
Romano Prodi mustn’t have expected in his wildest dreams that the international ratings agencies will add to his woes. But for unfortunate Prodi, it did happen. World’s two most renowned credit rating agencies – Standard & Poor’s (S&P) and Fitch – on October 19 declared of cutting down Italy’s credit ratings, citing the country’s insufficient measures to control debts and deficits as prime reason. And the result is anything but welcomed, as the Italian interest cost is bound to soar further from current 107% of GDP.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative
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