Debt Worries Cloud Global Holiday Mood

Two credit agencies downgraded Greece because of concerns over its fiscal health. Standard & Poor’s cut Mexico’s credit rating by one notch this week. Britain’s economic and fiscal health continues to worry investors as the Sterling hit a two month low against the dollar this week. Bob Burnett, head of European Equities and fund manager at Neptune Investment Management said “Government spending has been the major driver of global growth in 2009, and the capital markets’ challenge to this is a concern.”