A renewed Eurozone crisis would be the biggest risk to the global economy, said Fitch Ratings. The credit ratings agency polled more than 350 investors at events held in Hong Kong and Singapore, and found that another flare up in the Eurozone is the top risk for the world’s economy.
The finding come as Greece and its creditors tussle over new funding terms to keep the beleaguered southern Eurozone peripheral from avoiding a default.
At the same time however, the European Central Bank this month unleashed its €60bn-a-month monetary stimulus in a bid to prop up the euro area economy.
In a news release, Fitch said that it’s ‘Risk Radar’ has identified Eurozone deflation as the largest potential risk to our credit ratings portfolio, despite the ECB’s quantitative easing program.
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