Merkel hits back as German outlook is lowered

Chancellor Angela Merkel’s government said Germany will remain Europe’s haven during the financial crisis despite Moody’s Investors Service lowering its outlook on Germany.

24th July, 2012
Chancellor Angela Merkel.

Chancellor Angela Merkel’s government said Germany will remain Europe’s haven during the financial crisis rocking the euro area, pushing back against Moody’s Investors Service’s decision to lower the outlook on the country’s top credit rating.

The German Finance Ministry said the risks in the euro zone are “not new,” and that Germany remains “in a very sound economic and financial situation.” In counterpoint to Moody’s,...

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