Six Eurozone countries have been hit with a credit ratings downgrade by Moodys.
Italy Portugal and Spain were all on the list, while others like France, Britain and Austria have been warned that they’re increasingly vulnerable to the crisis.
It comes as Chinese and EU leaders meet for a major summit set to be dominated by Europe’s debt crisis.
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It’s hoped China may be able to come to Europe’s rescue by by investing in a bail out fund for debt stricken states.
Premier Wen Jiabao will hold talks with EU president Herman Van Rompuy and European Commission president Jose Manuel Barroso.
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