Moody’s took the first step toward stripping Germany of its coveted AAA credit rating on Monday, cutting the outlook for Europe’s largest and most pivotal economy to “negative.” Delivering a stark warning that no one is immune from the eurozone’s rolling crisis, the ratings agency lowered Germany’s credit outlook from “stable” to “negative.” A similar move was announced for fellow AAA ranked economies, the Netherlands and Luxembourg. Moody’s said all three faced risks from Greece leaving the eurozone and from the need to stump up cash for potential bailouts for Spain and Italy. In Germany the finance ministry immediately shot back by saying the country remained the “eurozone’s anchor of stability.”
