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Australian states are losing their AAA ratings. Should we panic?

Don’t worry about the AAA rating, writes economist and University of Queensland academic John Quiggin. It’s of little consequence for the day-to-day running of a state.

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Qantas junked? It’s too late to save the flying kangaroo

Australia’s airline has been junked by two credit ratings agency. So what can Alan Joyce and the Qantas board do about it? It’s probably too late to save the flying kangaroo now.

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UK downgrade another blow for austeritynomics

The downgrade of the UK’s credit rating again demonstrates how austerity can’t even achieve its intended fiscal goals, let alone protect an economy. Glenn Dyer and Bernard Keane report.

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S&P rating cut warning to bring EU, eurozone back to reality

S&P later today will warn that Germany and the five other triple A members of the eurozone risk losing AAA ratings because of the deepening economic and political crisis in the zone.

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Is the Euro-US crisis spiralling into one of democracy?

The steady drip of bad news from Europe and the US threatens more than just economic growth.

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Crikey Blogs | ECONOMY|

Warnings about Italy

Another financial downgrade for a European nation — this time it is the ratings agency Moody’s declaring that “the Italian economy continues to face significant challenges..,” reports Richard Farmer.

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Ratings agencies: how toxic loans became a gleaming security

While the ratings agencies may have blundered their way through corporate bonds ratings, they caused billions of dollars of damage in their flawed ratings of mortgage debt instruments.

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Who needs credit ratings? They should be optional

Banks and investors should thrive or die by the quality of their own assessments of credit risk. They have the most incentive to get it right, writes Adam Creighton, a research fellow at The Centre For Independent Studies.

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RBA boss’s speech a primer for Moody’s

The media and markets took literally a speech by Reserve Bank governor Ric Battellino yesterday and concentrated on his remarks about mortgage stress, bank lending and credit growth.

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The discredited agencies that drive Labor policy

Ratings agencies, despite being discredited, continue to influence Australian politicians.

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US could be staring at a credit worthiness downgrade

Is America about to get its comeuppance from a US credit ratings group in the shape of a downgrading of its credit worthiness, or outlook?

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Fitch Ratings’ arguments fail the stress test

When Fitch Ratings, Moody’s and Standard & Poor’s get up and apologise unreservedly to everyone around the world for getting it so wrong for so long on rating debt, then take yesterday’s statement that Fitch will “stress test” Australian banks seriously.

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Chinese company hands out credit-rating gongs

Australia is one of only seven countries awarded the top AAA credit rating by a Chinese entrant into the international credit rating business plus other political and business snippets.

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Markets question ratings, credit worthiness

Markets are starting to question the ratings and creditworthiness of a growing number of countries, as the Aussie dollar falls below 82 US cents.

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Austerity the new cool in UK … and in Italy, too … Brazil waxes lyrical about big oil find …

It’s hair shirts all around in London … Italy cuts public sector hiring and pay … Changes in the wind for US bank ratings … Car sales figures here are up on last year … Brazil waxes lyrical about another big oil find …

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Banks, ratings group under scrutiny in US … first cut not the deepest in the UK …

Wall Street’s day of reckoning has moved a step closer, the first cut not the deepest in the UK, jobs hard to find in Greece, iron ore prices slump and other business news of the day.

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Job ads pointing downwards … US banks continue to die … Germans to put up 8.1b euros for Greece …

Attention moves to Chona tomorrow, another four US banks bite the dust but its good news for jobs in US and investors giving Europe a miss. Plus, all the best business briefs of the day.

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Greece, Portugal, Spain: support needs to be expanded

If Greece can’t be supported, who will keep lending to Spain, Italy, Ireland, Portugal, the UK and countries in the Baltic and Eastern Europe?

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The low-hanging reform fruit up for grabs

Markets free to embrace conflicts of interest are not and never have been the best way of getting information about the integrity of our financial markets — whether by way of ratings agencies or the general auditing function, writes Nicholas Gruen.

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273.3 billion euro debt enough to junk Greece

Greece hit the fan in a big way overnight, dragging markets around the world lower and setting up the possibility of a crunch after Standard & Poor’s downgraded its debt rating to “junk”.

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Japan: the land of the not-so-rising sum

There is a very real chance the Japanese economy could return to the red this quarter or in early 2010, after the shock downgrade in third quarter economic growth.

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Moody’s still not convinced of US, UK ratings

With about three weeks to go until year’s end, investors are naturally more nervous; many have profit to protect, or rediscovered financial strength to maintain.

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Moody’s statement good news for Australia’s AAA rating

If you listen to the Moody’s ratings agency, there seems little risk that Australia’s credit rating is vulnerable.

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RBA minutes surface as financial storm clouds brew

A series of reports, ratings changes and general unease about the stability of financial markets in the past 24 hours have produced the sudden upturn in concern.

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