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Fitch Affirms Germany At 'aaa'; Outlook Stable - Yahoo Finance
By danikasugi, 19.07.2014, 09:40

The risk to public finances from the prospects of further sovereign support for German domestic banks remains low. German banks have improved capitalisation and funding conditions remain favourable for most of them. They have also been repaying capital injected by read this SoFFin (Financial Market Stabilisation Fund), which has no outstanding guarantees. Like many peers, an ageing population will increase the sustainability challenge for German public finances in the medium to long term. However, the current favourable fiscal position means the required adjustment is not as large as for other countries. The European Commission estimates that an improvement in the budget balance of 2.1% of GDP will be needed to ensure long-term sustainability of German public finance on a no policy change basis. This compares with the EU average of 2.4%. Recent announcements to changes to the pension system are not yet fully factored-in but are unlikely to change the gap materially. Germany has a high-value added economy with a competitive manufacturing sector and effective political, civil and social institutions.
News source: http://finance.yahoo.com/news/fitch-affirms-germany-aaa-outlook-201631136.html

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