S&P’s Ratings Horror Show
A good summary/introduction on Guardian:
There's a good piece on the Wall Street Journal tonight, explaining the four things to watch out when/if S&P's announcement is released.
• Who is and isn't downgraded will be crucial.
• The outlooks attached to the ratings will set the tone for trading.
• While much of the focus has been on France, the country most at risk from a downgrade is Italy
• While the S&P action will remove some uncertainty, it is only the first agency to move.
Đường nào cũng về La Mã:
David Riley, Fitch's head of global sovereign ratings, speaking in London, said Italy was on the "frontline" of the mounting eurozone debt crisis. "The future of the euro will be decided at the gates of Rome," he said.
Announcement of S&P France loses AAA rating as euro governments downgraded
What will be will be.
"It's not ratings agencies that decide French policy."
Full statement from S&P on Telegraph