A QUEDA DO IMPÉRIO :

Zero Hedge - Egan Jones Ratings - 18 Apr 2013 - clique aqui.
Alemanha rebaixada na nota de crédito, ligada aos fracos PIGS.
Although Germany's credit metrics are respectable, the country has exposure to its banks and the weaker EU members. Deutche Bank has adjusted shareholders' equity to asset near 2% and might need EUR 100B of support. Via the ECB's Target 2, Germany is owed EUR700B of which perhaps 50% is collectible and then there is the banks' southern EMU exposures. 

Germany's debt to GDP was 80.6% as of 2011. However, increasing Germany's debt by EUR500B raises the adjusted debt to GDP to 100%. The deficit to GDP of .8% is reasonably strong. Unemployment is 6.9% but will probably rise as global economies continue to show weakness. The positive (EUR16.8B) balance of trade (per GFSO) and the positive EUR5.59B current account (per the OECD) help. Inflation has been moderate at 1.4% (per GFSO).