"Standard & Poor's warning the United States could lose its AAA rating may ultimately bring investment to Germany, reduce interest rates on its bonds and help the country lower its own debt," writes Deutsche Welle:
"Standard & Poor's reassessed US sovereign debt and decided to put it on negative watch for the first time, meaning there is one-in-three chance the ratings agency will downgrade the country's hitherto cast-iron AAA credit rating in the next two years. "Germany wins in this equation because it gets a dividend through stability," said Clemens Fuest, a member of the German finance ministry's technical advisory committee. "Interest rates will be pressed down as a result." Germany maintains a secure AAA rating, pays less for a 10-year bond than the United States, and has a constitutionally-mandated 'debt brake.' In Europe, German bonds, known as bunds, have long been the benchmark for investors. (...)
"If [fund managers] believe the credit rating of the US is declining, one of the alternatives is to buy German bonds, which seem to be relatively safe as compared to other countries," [Joachim Scheide, an economist with the Kiel Institute for World Economy] told Deutsche Welle. "This does not mean. that Germany will benefit forever. The consequence would be a sharp fall in the dollar, and a rise in the euro. This would negatively affect the competitiveness of German and European exports."
I am not sure how much longer Germany will maintain its "secure AAA rating"; especially in light of the Eurocrisis. Many wait for the other shoe to drop. Whatever the US loses and Germany benefits from a lower US rating could get balanced by the Eurocrises. What do you think?