Germany downgrade threat sees eurozone CDSs widen

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Credit default swap (CDS) spreads across the eurozone could not continue yesterday's move tighter after Standard & Poor's (S&P) said it could downgrade 15 member states, including AAA-rated Germany, as a result of the worsening economic conditions on the continent and the continued failure of European politicians to find a lasting solution to the crisis. It is a big week for the single currency, and S&P's announcement took the shine off yesterday's Franco-German agreement, which p