BREAKING: S&P Downgrades France and several other UE Nations - Euro Braces.

S&P Cuts Triple-A Ratings of France, Austria

PARIS—Standard & Poor's Ratings Services stripped France of its prized triple-A long-term credit rating, the company announced Friday afternoon, a move that marks the long-awaited blow to France's international standing and knocks Europe's second-largest economy out of the top financial league of the euro zone.

Read more at:

online.wsj.com...

It was only a matter of time, the situation in Europe is dire, looks like more bailouts are in order - and of course they release the information on a Friday.

Other countries that were downgraded:

France downgraded to AA+
Austria downgraded to AA+
Spain downgraded to A (went down 2 notches)
Italy downgraded to BBB+ (went down 2 notches)
Portugal downgraded to BB (went down 2 notches)

This is going to be a huge blow to Italy as they were able to finally able to reduce the percentage rate on their bonds. The only thing holding the EU together is Germany, how long will they be able to do so? Greek talks on restructuring their debt have stalled.

At least this is masking how bad things are in the states, who want to increase their debt by another 1.2 trillion. I have said in many of my posts, if you are not preparing for economic collapse, then I feel sorry for you and your family.

Originally posted by MidnightTide
S&P Cuts Triple-A Ratings of France, Austria

PARIS—Standard & Poor's Ratings Services stripped France of its prized triple-A long-term credit rating, the company announced Friday afternoon, a move that marks the long-awaited blow to France's international standing and knocks Europe's second-largest economy out of the top financial league of the euro zone.

Read more at:

online.wsj.com...

It was only a matter of time, the situation in Europe is dire, looks like more bailouts are in order - and of course they release the information on a Friday.

Other countries that were downgraded:

France downgraded to AA+
Austria downgraded to AA+
Spain downgraded to A (went down 2 notches)
Italy downgraded to BBB+ (went down 2 notches)
Portugal downgraded to BB (went down 2 notches)

This is going to be a huge blow to Italy as they were able to finally able to reduce the percentage rate on their bonds. The only thing holding the EU together is Germany, how long will they be able to do so? Greek talks on restructuring their debt have stalled.

At least this is masking how bad things are in the states, who want to increase their debt by another 1.2 trillion. I have said in many of my posts, if you are not preparing for economic collapse, then I feel sorry for you and your family.

edit on 13-1-2012 by MidnightTide because: (no reason given)

Germany is holding the EU together? No it isn't. It is hovever holding The EURO together (A currency thankfully Britain is not a part of)

reply to post by alldaylong


I equate the two being the same thing. Once the Euro is done, countries will no longer want anything to do with the European Union.

Originally posted by MidnightTide
reply to post by alldaylong

 

I equate the two being the same thing. Once the Euro is done, countries will no longer want anything to do with the European Union.

edit on 13-1-2012 by MidnightTide because: (no reason given)

How do you make that out? The Euro has been around for 10 yeras. The EU in one form or another has been in exsistance since 1958.

It will only get worse. The problem is with these fiat economies there is no backing that stabilizes the value of the money and the economies are just false and propped up.

Europe want an independent European credit rating foundation for credit ratings or EU countries.

Malta, Slovakia and Slovenia are three more added to the list...

This is getting rather ridiculous dont you think?
I am of the opinion that we should all just tell the banks to take a hike....
Debt forgiveness across the board and redistribute the money between everybody.....
Late all start equally and watch who gets all the money back real quick.....then maybe we should
shoot them.....

reply to post by stirling


I'm with you on this one.

Ouch!!!

That will hurt blindside for those who didnt read the Up to the minute market data thread on this board. Now its a new level.
So far the speculation was spot on. I cant remember how many time vitchillo posted about france downgrade last two months.
I am praying we dont attack iran.

You have to laugh at these "successful" debt auctions that happened in Spain and Italy a couple of days ago.
I was scratching my head thinking how on earth these 2 countries would have successful debt auctions in the state they're in.
What they forget to mention is it was the ECB who lent out almost half a trillion euros of three-year money to banks, which is essentially a big back door bailout.

Originally posted by SpaceMonkeys
You have to laugh at these "successful" debt auctions that happened in Spain and Italy a couple of days ago.
I was scratching my head thinking how on earth these 2 countries would have successful debt auctions in the state they're in.
What they forget to mention is it was the ECB who lent out almost half a trillion euros of three-year money to banks, which is essentially a big back door bailout.

Very good point. It was mentioned in the media but not highlighted to downplay the ECB involvement and its real actual contribution to the successful auction.