Eurozone downgrade

The “lack of progress the European policy-makers have so far made in controlling the spread of the financial crisis may reflect structural weaknesses in the decision-making process within the eurozone and European Union,” the agency is said to have told them.

Well, yes, I think \”structural weakness in decision-making\” is something that we\’ve seen ample evidence of, don\’t you?

One comment on “Eurozone downgrade

  1. If they downgrade the US on the back of political deadlock over the debt ceiling, how can S&P do anything other than downgrade every Eurozone member.

    In the US there is at least a government responsible for solving these problems, in the eurozone no member state can, of themselves, solve this problem.

    So I am surprised it took this long actually. If S&P wish to be consistent they have no choice but to downgrade all of them for exactly the same reason they downgraded the US.

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