New York, Saarbrucken (archive ) – The rating agency default The step came as no surprise: It was only in August Timmy’s rating of BB ( speculative investment ) was lowered to B- ( highly speculative investment ), after it was revealed that the boy with almost all his classmates, friends and relatives amounts standing in the chalk between ten cents and three euros fifty.
also no reserves are more available’ at that time the situation was already critical’, so default’ But after all, Timmy could service its debt on a regular basis even though mostly under new loans.’
This amount, according to experts in the meantime to about 67.38 euros. With a pocket money of each month 50 cents Timmy can not even pay for the rise in the negative ratings on up to 11 percent interest
Timmy’s parents see no reason to stand in for her son.’ The boy has for far too long about his conditions lived. We call him just’ bankrupt Timmy” says his father.’. From us sees the penny’
As Timmy as a member of the euro zone has no possibility to devalue its own currency, see financial experts only one possibility: he must put on a strict austerity program and in the coming years and on luxuries like Pausenbrot forego new clothes. Then he might negotiate with its creditors a haircut of up to 50 percent.