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Germany says euro zone "anchor" despite Moody's change

by fwire  Jul 24, 2012 04:01 IST

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BERLIN (Reuters) - Germany's finance ministry said on Monday a decision by Moody's to change the Aaa-ratings outlook on Europe's largest economy to negative did not take away from Germany's role as an anchor of stability in the euro zone.

"By means of its solid economic and financial policy, Germany will retain its 'safe haven' status and continue play its role as the anchor in the euro zone responsibly," the German finance ministry said in a statement.

Moody's Investors Service on Monday cited uncertainty about the euro zone's ongoing debt crisis as the reason for changing the outlook on top-rated Germany, the Netherlands and Luxembourg. Their outlook had previously been stable.

The German ministry said these risks were not new and added that the ratings agency emphasised the short-term risks while not mentionning the long-term prospects for stability.

(Reporting by Michelle Martin; Editing by Stephen Brown)

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