Everything changes in global financial markets if there’s a credit-rating cut

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• Everything changes in global financial markets if there’s a credit-rating cut
• Governors want Congress debt deal with Obama
• Top lawmakers target ‘grand bargain’ for debt plan
• Item Club scales back growth forecasts saying UK at ‘critical juncture’
• Europe’s bank stress tests as bad as 1979 Irish driving test
• Greek PM says time for Europe to wake up
• EU’s Rehn calls for Irish bailout loans to be lengthened
• Lending drought threatens Britain’s recovery

Everything changes in global financial markets if there’s a credit-rating cut Posted: Stephen Foley’s US Outlook in The Independent

Governors want Congress debt deal with Obama Posted: Bloomberg article

Top lawmakers target ‘grand bargain’ for debt plan Posted: Washington Post article

Item Club scales back growth forecasts saying UK at ‘critical juncture’ Posted: Fear of contagion from Eurozone debt crisis continues to affect economy, according to Item’s quarterly health check.

Europe’s bank stress tests as bad as 1979 Irish driving test Posted: In 1979, the then Irish environment minister, Sylvestor Barrett, did an extraordinary thing that was to have ramifications for Ireland’s drivers for decades to come.

Greek PM says time for Europe to wake up Posted: Reuters article

EU’s Rehn calls for Irish bailout loans to be lengthened Posted: Reuters article

Lending drought threatens Britain’s recovery Posted: David Smith at economicsuk.com