If your debt load is making it harder for you to borrow money, you’re not alone—the EU feels your pain.
Standard and Poor, one of the big three U.S. credit rating agencies, downgraded several countries in the European Union earlier this week. Greece has been reduced to junk status and even France took a hit—a country that has long promoted itself as fiscally even-keeled with Germany.
For a better understanding of what this means to the American consumer, we’ve talked with economist and professor Jeff Zax, who offered a clear and concise look at the downgrades and their possible effects. Read on—it might just help you better understand your own credit score.
