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http://www.nytimes.com/2011/01/29/world/middleeast/29egypt-economy.html Unrest Worries Credit Raters. So Does Calming It. By LIZ ALDERMAN Published: January 28, 2011 DAVOS, Switzerland — As the turmoil gripping much of the Arab world reached a critical pitch in Egypt on Friday, the possible economic fallout was on the minds of credit ratings agencies monitoring the situation from thousands of miles away, and they did not like what they saw. But the warnings they issued are themselves raising eyebrows. Fitch Ratings said on Friday that it was putting a “negative” outlook on Egypt, as protesters there clashed with security forces and defied curfews, raising questions about the country’s political stability. That warning came on the heels of a report by Standard & Poor’s saying that the upheaval in Tunisia, where mass protests drove the longtime president from office, risked creating “downward ratings pressures” on other governments in the region, if leaders tried to calm social unrest with “populist” spending on tax cuts, subsidies, and public sector jobs. <cut> ________________________________________________ Send list submissions to: Marxism@greenhouse.economics.utah.edu Set your options at: http://greenhouse.economics.utah.edu/mailman/options/marxism/archive%40mail-archive.com
