Late on February 13, rating agency Moody's Investors Service announced it had "adjusted" the sovereign debt ratings of nine EU countries. The agency said the move reflected the countries' "susceptibility to the growing financial and macroeconomic risks emanating from the euro area crisis and how these risks exacerbate the affected countries' own specific challenges".

Austria, France and the UK saw the outlooks on their Aaa ratings changed to negative. This is the first time Britain's top-level