Fitch downgrades 10 European banks and warns coronavirus impact could lead to more

, Gruppo Bancario Iccrea in Italy and Credit Europe Bank in the Netherlands and banking groups in Cyprus, Spain and Luxembourg.

They also include banks already vulnerable, for example because of weak profitability, or a weaker competitive position. The revisions come amid the coronavirus pandemic that has shutdown the majority of Europe's economy as the region struggles to contain the virus that has now infected hundreds of thousands of people.

It would be very helpful if Joe would stop interrupting and speaking over everyone. Andrew was talking about a nose spray this morning but Joe kept speaking over him, preventing us from hearing Andrew’s report.

After the 2008 crisis, nobody should take those rating agencies seriously. AIG and Lehman were all AAA after all.

There’s a point where these downgrades make no sense and it’s counter productive! How do you restart an economy if you don’t take risks?

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