S&P Strikes Again
 

France has lost there AAA+ Rating with S&P, now on AA+

http://www.bbc.co.uk/news/business-16552623

Austria also looks like there loosing there AAA+

Italy looks like a double whammy, there on A+ heading for BBB+



Don't panic France you still got AAA+ with Moody's & Fitch rating agency's.

Bwahahahaahahaha! Welcome to the club, boys. We've saved you a nice seat on the bench next to good ol' Uncle Sam. :up:

for both the US and France AA+ would still be pretty generous :shifty:

Italy has been downgraded to BBB+ and Spain down from AA+ to A.

http://www.telegraph.co.uk/finance/d...isis-live.html

Finland & Germany keep there AAA+


updates...
http://www.telegraph.co.uk/finance/d...isis-live.html

But the EU states are working to pull Germany's rating down, too. The "fiscal pact" (hahaha, always these pathetic phrases, in German the word "Pakt" for a treaty has a very old-fashioned odor to it) is under heavy fire by attempts to soften up the key issues in it. States do not want to accept automatisms and EU courts (as if these are not already europhile enough) bringing them to courts when violating the debt breaks. States want that only a voting by other states can bring a violater to courts. In other words, since this event is extremly unlikely, they want to sanctions being imposed on anyone, ever.

And the German finance minister is reprted to secretly plan to bypass the debt break Germany alreadsy has implemented into its constitution, becoming valid in some years (in some years, yes, take your time, fellas, there is no need to hurry up...).

This to illustrate where the voyage is going: downwards.

Sun Tzu: he who tries to defend everything, will lose everything.

This is too true, and says it all about the EU crisis.

After MONEY WARS: The Debt Strikes Back

it's now

MONEY WARS: Return Of The Rating.

:D

They say a third part, titled MONEY WARS: No New Hope, is in the making.

Kicrrr, the entitlements is strong with this one, kicrrrr........ eeeeeeewwww stupid they are, never socalism does work.

The ratings agencies are absolutely irrelevant, especially S&P who was a prime enabler of the financial crisis. They're just saying what the market has already known and priced in. The ratings agencies are always late to the party...they make these ratings changes and the media reports it like it's a huge deal and a shock, when in reality any market participant who pays even a modicum of attention has already realized that Europe is not as creditworthy as they were in the past.

Yawn. :yawn:

" ... Standard & Poors is a United States-based financial services company. It is a division of The McGraw-Hill Companies that publishes financial research ... "

Ah, ok. Do they think the Dollar will be better off now ? :D

Those rating agencies should not be overrated themselves.
The only people who need rating agencies is the greedy stock market - screw them !
The world and people are better off without those artificial constructs.

Italy

BBB+ = Bunga Bunga Bailout+ :DL

Yes, rating agencies made mistakes, especially in 2008, they are likely to be under some political and informal influence/pressure form the US political class, and yes, they are mostly late to the party, just putting into a school-note what the markets for the most already knows.

That's why it is hilarious when Europeans in their attempt to glorigy and tell lies about the efficiency of European handling, accuse rating agencies to detoriate the situation by their assessments, causally. Europeans just try to blame them, and mistake cause and effect.

European tactics and handling of the crisis is anything but convoncing and shiny. But that does not mean that America'S handling of its problems is any better. Seen this way, European'S scepticism on the role of US rating agencies, in this regard is justified. Europe must not allow Washington to impose influence on European decision makers to change its policies according to American ways of printing money and making even more debts: the US state of things is not such that one could argue it gives evidence for the American way being right and correct. However, the claim over the role of rating agencies as helping to causally inflame symptoms of the crisis, is absurd. For the most they indeed are too late with their ratings, trying to catch up with reality's events that are in lead.

There are other rating agencies as well in the world, and I would have a look at the chinese ones, too. A few of them had downrated the US and European states long before this even was considered a possible event in the West.

It beats me why they are taken so seriously...but taken seriously they are :hmmm:

Never under estimate the darkside of the S&P.