January 13, 2012

Cresting the edge of the abyss

It starts -- from CNBC:
Five European Nations to Be Downgraded by S&P
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.

It said the announcement would come at around 4:30 pm ET, after the US stock market has closed.
Fun times ahead globally... Posted by DaveH at January 13, 2012 12:02 PM
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