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Investors drop saudi stocks in light of the caution case and the last of the big Foreign Companies pulls out of a key Investment Summit in rio officials are scrambling. Just one notch above junk status a Credit Ratings downgrade for italy but other markets actually worried. Joe kayser the c. E. O. Of german industrial giant siemens announced today that hell pull out of the davos in the desert now thats the massive Investor Conference set to begin this week in riyadh move may not be a surprise in the wake of the suspected murder of journalist jamal. But for kaiser and his company its not an easy one. Preparations are well underway the mood though is muted said his future Investment Initiative a ....
Of tricks to try and make it work but the stability pact has always been short of teeth that it doesn t bite the ultimate sanction has always been to find the country is running excessive deficits but no fine is ever been imposed and indeed it would be at all the crazy thing to do to find a country that is in budget troubles so they try to rely on lots of surveillance so called success a deficit procedure makes it sound all sinister but if the stability pact works at all it s probably by causing reputational damage to a country that looks if it is running a budget that s too great well what about market pressure in this case we know that moody s has downgraded italy s credit rating what does that mean exactly and what kind of pressure does that put on italy s government well it does in the sense that it s been raising the yield on it and the telling government budget that telling governments bones then out about three and a whole percent of something which is i think it s ....