I predicted this three weeks ago.
6/26/2012: Federal Republic Of Germany: EJR lowered AA- to A+ (Neg.) (S&P: AAA) (3413Z GR)
Synopsis: German chancellor Angela Merkel continues to create tension with EU member states by resisting calls for EU bonds (shared liabs.), money printing calls and for her pushing for fiscal controls and the seniority of bailout funding. Germay is likely to be outvoted by other ECB members and therefore will have greater prospective exposure. Watch for the EFSF and the ESM morphing into banks (thereby depressing eventual recoveries) and a rise in the number of euros. The fallout from a likely Greek exit needs to be monitored. We are cutting to ” A+ “
5 Responses to Sociopath, Sean Egan, Downgrades Germany
You see, the reason we have downgraded Germany’s debt is because Germany refuses to tie themselves to the shitty debt of other European countries… Glad they make the big bucks.
Regardless of what Merkel wants to do, it is unlikely the German supreme court would allow shared liabilities.
I’ve been trying to find a list of countries by credit rating for Egan Jones. Can’t seem to find one. I guess that goes to show how seriously they are taken.
I can only assume there are no AAA countries left. And if that’s the case, then AA is cream of the crop and might as well be called AAA.
Is this what you’re looking for, or the Egan Jones specifically? http://en.wikipedia.org/wiki/List_of_countries_by_credit_rating
I’ve seen that. The big three are out in the open and easily accessible.
I want Egan Jones specifically. I want to know if they have any AAA’s left. You’d think an agency trying, in a very public way, to make a name for themselves, would be a little more accessible.
Oh, OK. I couldn’t find an Egan Jones list anywhere either. It is surprising that they don’t just add it to Wikipedia themselves.