Moody's: "The level of uncertainty about the outlook for the euro area... is no longer compatible with a stable rating outlook."
Germany: "Even if Germany were to receive a worse rating, it would still be the country with the best rating in Europe, because all the other countries would have to be downgraded."
Moody's: "A Greek exit would set off a chain of financial sector shocks... policymakers could only contain at a very high cost."
Germany: "If Germany gives additional billions in aid without anything changing in these countries, things will move in the wrong direction."
Moody's: "Over the transitional period...additional pressure on the strongest nations' balance sheets will increase pressure on their credit rating."
Germany: "The risk mentioned by them are not new, although the analysis places particular emphasis on short-term risks while longer term stability prospects go unmentioned."