Britain could be in line to lose its top-notch credit rating in the near future due to the ongoing impact of the eurozone debt crisis on the country.
That is according to leading agency Moody's, which has today (14 February) warned the UK that it - along with other triple-A nations France and Austria - are in danger of being downgraded sooner rather than later.
Moody's has decided to lower the scores of eurozone member states Spain, Italy and Portugal on the grounds they are struggling to cope with the effects of the continent's issues.
Previously, Britain was thought to be safe in its classification, but the agency indicated that the weakness and instability of the European economy is serving to undermine the government's austerity drive.
This comes after Laszlo Andor, commissioner for employment and social affairs at the European Union, stated that Europe could be set to endure another period of recession in 2012.
By Asim Shah
