Weaker euro-zone nations will need to restructure, Moody's warns

BERLIN. Before the beginning of the press conf...                                                              
Analysts at Moody's Investors Service warned that austerity budgets likely won't be enough for some peripheral euro-zone nations to avoid defaulting on debt and that they will need a "restructuring". "It is hard to escape the conclusion that austerity will not end the debt crisis, and that restructuring may be necessary, as Germany's Chancellor Angela Merkel has indicated," the analysts said. Fortunes of the West and Asia will continue to diverge in 2011, they said. Full story here