Moritz Kraemer, S&P
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Eurozone must regain confidence or face recession, says S&P

Standard and Poor has warned the eurozone could slip back into recession "if we do not reverse the current confidence crisis".

S&P put almost all eurozone countries on "credit watch" on Monday.

It means that six countries with top AAA ratings have a 50% chance of seeing their credit ratings downgraded.

Moritz Kraemer, managing director of S&P, said it was "critical" that the Eurozone regains confidence.

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