Morning in brief: Major bank downgrades, EFSF increased to unspecified size

Eurozone finance ministers remain silent on how much the European Financial Stability Facility (EFSF) has been increased by, while a number of major global banks suffer simultaneous downgrades.


The Indian economy boom seems to be slowing as GDP growth between July and September was at the slowest rate in two years, reports the BBC.


After yesterday’s meeting of 17 eurozone finance ministers, the size of the EFSF has been increased. However, Reuters reports that ministers have not revealed how much it has been bolstered by.


A number of major banks, including Bank of America and Goldman Sachs, have had their long-term credit rating downgraded by Standard and Poor’s following a revision of criteria, reports Bloomberg.

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