While traders and investors in the Philippines rejoice over all-time highs in the stock market, favorable economic conditions and positive consumer outlook, the opposite seems to be the state of norm in the Eurozone area — with more news of recession, austerity programs and credit rating downgrade coming from that part of the world.
The latest in the recent spat of bad news from Europe is the announcement of ratings agency Moody’s that it is downgrading Britain’s sovereign credit rating for the first time in the country’s history.