Rating Rosenberger & Partner - a Swiss rating agency

Striking pattern from August to early November.

This surprisingly clear pattern seems to suggest that the political decision-makers have succeeded in building trust in the weak countries. On the other hand, investors evidently do have concerns as to whether the strong countries will be able to bear the additional burden of financial aid without themselves being affected.

What is particularly striking is that the non-EU countries Australia, Canada, Japan, New Zealand, Switzerland, the UK and the USA have also been affected. They are apparently casualties of general scepticism surrounding the future development of the global economy.