UK Banks DOWNGRADED - Eurozone Crisis

BBC News: Reports that Moody’s the Credit Agency has downgraded 12 UK Banks and Building Societies. The Credit Agency has stated that the downgraded is not to do with the state of the UK banks and building societies but because it thinks the UK Government would not support a failing financial institution. This makes this blog worried, the very same credit agency has recently downgraded Italy, why does this blog get the feeling that another shoe is about to drop in this economic crisis, this move by Moody’s smells over covering its back in the event of a future incident. Does the Agency know something that we don’t know, are German and French banks at greater risk, as UK banks are heavily linked to Europe are some UK banks again under threat should European Banks go under, lets recall the French/ Belgium Bank Dexia went under out of the blue, this was a direct result of the Greek crisis, that black hole at the centre of the Eurozone crisis, worrying developments folks.