Germans blame Greek bailout for credit rating downgrade

Fears that Germany will lose its AAA credit status is creating ripples of uncertainty among German nationals. While politicians and economists are quick to downplay Moody’s negative outlook on Germany’s credit rating, the move has angered Germans who blame the government for footing Greece’s bailout package. Germany is one of the strongest economies in the eurozone and in recent months has stepped in to handle bailout packages of ailing Greece. Politicians in Berlin are confident that the economy remains strong, but a spokesman quoting Chancellor Angela Merkel says “Germany’s power is not unlimited.” Bond prices fell on Tuesday, July 24 following the news, but economists say Germany’s borrowing rates are likely to remain the same, as German debt remains a safe-haven investment. 

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