By Madison Ruppert / Editor of End the Lie
Moody’s declared in a statement that without taking measures to stabilize the market in the short term, the credit and banking crisis will continue to spread.
The statement also proclaimed that politicians in the European Union will be forced to act quickly in order to restore confidence in the economy.
“In the absence of major policy initiatives in the near future which stabilize credit market conditions, or those conditions stabilizing for any other reason, the point is likely to be reached where the overall architecture of Moody’s ratings within the euro area, and possibly elsewhere within the EU, will need to be revisited,” Moody’s statement said.
“Moody’s expects to complete such a repositioning during first quarter of 2012,” the statement added.