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Moody's Downgrade of Italy Was Not Justified: Expert

Friday, 13 Jul 2012 | 11:00 AM ET

"We do have political uncertainty in Italy but that's not immediate, this Moody's downgrade is in direct conflict with the tone of the IMF report which came out on Italy about six weeks ago, where it noted that Italy has one of the largest primary surpluses amongst the euro zone," Bob Parker, senior advisor at Credit Suisse, told CNBC.