David Riley said President Fitch’s sovereign rating today, Wednesday, that he should be on the ECB to increase its purchases of bonds to support euro area and Italy to prevent the collapse of the “catastrophic” for the euro.
He told investors in a tour in Europe The collapse of the euro would be a disaster for the world economy, adding that this is not the main scenario is likely to Fitch, but it may happen if Italy did not find a way to resolve their debt problems.
“It is difficult to predict the survival of the euro if Italy did not succeed in crossing the crisis,” he said, adding that Italy has a great importance politically and economically Tstltzm prevent its collapse and that some may say it is too big to save her one.
He urged the European Central Bank to abandon the current reluctance about the increase in purchases of bonds, euro zone countries facing problems such as Italian bonds and give up his opposition to the rescue fund for the region to borrow directly from it.
Fitch warned that the outlook for the euro area increased darker in recent months but said she did not expect deprive France rated excellent this year at least. In contrast, warned Standard & Poor’s downgraded the likelihood of two degrees of France.
Riley warned that the economy of France’s second largest economy in Europe in a dangerous position with the escalation of the crisis.