German Credit Rating Threatened

Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

<blockquote>“…the manipulation of money and goods is soon to be revealed as the main method of control imposed upon society by the Antichrist.”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>
</blockquote>

Germany’s AAA credit rating is in danger of a downgrade after Moody’s changed the outlook for the nation’s credit to negative. The move is a possible first step into downgrading the country’s overall rating.

Moody’s stated that the exit of Greece from the Euro is increasing and the increasing financial decline in Spain. A full bailout of Spain is considered to be more likely as the cost of Spanish bonds remains at a record high.

The costs for Spain to borrow funds has increased almost .5% in a one month span.

Other major nations with AAA ratings had their outlooks shifted to negative in the last six months including France and Austria.

Moody’s said that the increasing chance of a Greek departure from the Euro would set off a “chain of financial sector shocks” that would result in massive costs to the eurozone nations.