German credit fears spark fury over bailouts
The prospect of Europe’s biggest economy losing its cherished AAA credit status has unsettled Germans, already angry about footing the bill for bailouts, and triggered calls for an even tougher stance on Greece and other euro zone laggards. While politicians and economists were at pains to argue that Moody’s downward revision to Germany’s credit rating outlook would have little immediate impact on borrowing costs, ordinary Germans said they were worried. The country has been a bedrock of stability in the euro zone crisis with its bonds seen as a safe-haven from the region’s troubles and investors paying to lend money to Berlin at recent debt auctions. But Germany’s strength means it has the role of regional paymaster and taxpayers are fed up that their hard-earned cash is going to support neighbours whom they view as profligate. They oppose further bailouts and a poll for German TV released last month showed a hefty 83 percent said Greece should quit the 17-nation euro zone if it failed to abide by the conditions of its aid package. – Reuters page 22
MultiChoice rolls out GOtv in Zambia
MultiChoice activated a fourth market for its new GOtv platform in Zambia last week, as the South African subscription-based television broadcaster seeks greater control of the payTV markets across the continent. Nico Meyer, the chief executive of MultiChoice Africa, told guests at the launch in Livingstone last Thursday that “as GOtv grows we anticipate we will spend in excess of $300 million (R2.55 billion)”. – Asha Speckman page 17