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Europe Daily Bulletin No. 10743

4 December 2012
ECONOMY - FINANCE - BUSINESS / (ae) euro
Moody's downgrades European Stability Mechanism

Brussels, 03/12/2012 (Agence Europe) - On Friday 30 November, Moody's credit rating agency downgraded from Aaa to Aa1 the long-term rating of the European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM), and also downgraded France's debt. Klaus Regling, managing director of the ESM, said in a press release: “Moody's rating decision is difficult to understand. We disagree with the rating agency's approach which does not sufficiently acknowledge ESM's...

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