Budget Surplus Best Defense for Australian Economy, Swan Says

Returning Australia’s budget to surplus is the best defense against an uncertain global economic outlook and will continue to support the nation’s top credit ratings, Treasurer Wayne Swan said.

S&P Lowers Euro Rescue Fund Outlook to 'Negative'

Standard & Poor’s on Monday lowered its outlook on the European Financial Stability Facility (EFSF), the fund created for bailing out debt-laden eurozone countries.

AP sources: S&P could put eurozone on credit watch

BRUSSELS (AP) — Efforts to stabilize Europe's financial crisis were thrown into disarray late Monday as the 17 countries that use the euro braced for a possible downgrade of their credit ratings.