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?

1 thought 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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