This morning's news that the two rating agencies Fitch and Moody's will not downgrade the European bailout fund, the Efsf, as it was instead decided yesterday by the third major agency, Standard & Poor's.
The statement came directly from Klaus Regling, the managing director of the Fund, who wanted to specify how the S&P downgrade will have a relatively small impact on the European financial markets if the other two major agencies do not act jointly on the rating in the short to medium term.
"The fund - added Regling - has never had problems placing its bonds and the latest EFSF offer was subscribed by Asian investors for 15% compared to the previous 40%".
Confirming the EFSF director's analysis and despite S&P's recent downgrade of nine eurozone countries, there is the positive performance of all the major European stock exchanges, with Milan scoring a +1,67.
