S&P Credit FAQ

Here is the S&P report on the factors behind their rating actions on Eurozone ‘sovereign’ governments. which makes grim reading for all those who believe the euro is “irreversible” and “eternal“, Tyler Durden of zerohedge sums up the situation aptly: The failed experiment is coming to an end. And since the Eurozone’s idiotic foundation was laid out by the same breed of central planning academic wizards who thought that Keynesianism was a great idea (and continue to determine the fate of the world out of their small corner office in the Marriner Eccles building), the imminent downfall of Europe will only precipitate the final unraveling of the shaman “economic” religion that has taken the world to the brink of utter financial collapse and, gradually, world war.