Moody's Investor Services announced late Monday that it is "changing the outlook on Germany, as well as on the Netherlands and Luxembourg, to 'negative,'" because of the increased likelihood that those countries will have to suffer the costs of keeping Italy and Spain afloat. Moody's also cited the increasing risk of Greece leaving the euro and "set[ting] a chain of financial-sector shocks." The change is "less drastic" than a ratings downgrade because the effects of the "negative" outlook are limited to the three countries' borrowing costs.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why all drugs should be legal. (Yes, even heroin.)
- Here's the schedule very successful people follow every day
- What would a U.S.-Russia war look like?
- Why you should really take a nap this afternoon, according to science
- 7 ideas from ancient thinkers that will improve your modern life
- How to trim $500 from your monthly spending
- The forgotten victims of the war in Ukraine
- Comic-Con 2014: Everything we learned about Avengers 2, Batman v. Superman, and more
- Are there too many good shows on television?
- The big, gaping hole in the liberal policy arsenal
Subscribe to the Week