last night, with a negative outlook.
It cited the country’s weak economy driven by the government’s austerity measures, its debt, and a fragile governing coalition as the main causes for the downgrade.
With contagion fears rising, prime minister Silvio Berlusconi pushing austerity measures, and lowered GDP projections of 0.6% in 2011, Italy is looking sick too.
Sure it isn’t as bad as Greece, but the country needs major changes to its fiscal policy if it is to survive.
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