Markets basically spent the past week waiting for some action on Greece. Eventually, nothing was forthcoming. Well, we’ve seen that before.
There was another feeling of déjà vu all over again: When Moody’s announced its latest round of downgrades, markets completely ignored this. Are the once powerful rating agencies becoming irrelevant?
Host Stefan Grobe discusses that with Alexandra Estiot, economist at BNP Paribas in Paris. Also on the programme: President Obama’s 2013 budget proposal and a report on an industry that plays out well.