Five European Nations to Be Downgraded by S&P

[B_J 2,752]

Standard & Poor's will cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, a French newspaper said Friday, without citing its sources.

The newspaper, Les Echos, said that S&P would spare Germany, the Netherlands, Finland and Luxembourg in its long-awaited adjustment of euro zone sovereign ratings.

http://www.cnbc.com/id/45985456

[I AM NOT THAT GUY 5,715]

Standard & Poor's will cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, a French newspaper said Friday, without citing its sources.

The newspaper, Les Echos, said that S&P would spare Germany, the Netherlands, Finland and Luxembourg in its long-awaited adjustment of euro zone sovereign ratings.

http://www.cnbc.com/id/45985456

The October Surprise is going to be a credit crash. The only way left to stop it is to crank up the printing presses, let inflation run wild for a while, and then slam on the brakes by raising interest rates. Paul Krugman claims he was vindicated, and Obama loses the election. Of course, North America and Europe will be foreclosed on by the Chinese, and we will all have to learn to speak Mandarin.

[Mr. Big Dog 10,747]

Standard & Poor's will cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, a French newspaper said Friday, without citing its sources.

The newspaper, Les Echos, said that S&P would spare Germany, the Netherlands, Finland and Luxembourg in its long-awaited adjustment of euro zone sovereign ratings.

http://www.cnbc.com/id/45985456

It's nine countries that were downgraded. Four of them two notches the rest one notch.

• France down one
  
• Austria down one
  
• Italy down two
  
• Spain down two
  
• Portugal down two
  
• Cyprus down two
  
• Malta down one
  
• Slovakia down one
  
• Slovenia down one
  

There's only one EUR zone country left with both a triple A rating and a stable outlook. That's Germany.