Italy Downgrade Hits Yield at Bond Auction - Presented by: The Aol. On Network

For Italians - it's that familiar sinking feeling. Their economy has been downgraded again. This time Standard and Poor's cut the sovereign rating to BBB, one notch above junk. The ratings agency said it was concerned about the economy's prospects, as it's still stuck in the worst recession since World War Two. The downgrade sent the euro lower. Shares in Italian banks also fell.



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