Political failure casts a cloud on Europe

When the credit rating agency Standard & Poor’s decided to take more than half the eurozone’s 17 members down a notch or two in a downgrade on the 13 January 2012, it was aiming at a bigger target: political mismanagement at a European level in dealing with debt crisis in the eurozone.

Spiegel Online International, 14.1.12: France Downgrade Creates Pressure for Merkel http://www.spiegel.de/international/europe/0,1518,809143,00.html

ESO: Background information: Merkel says eurozone must act fast http://www.europeansources.info/record/merkel-says-eurozone-must-act-fast/

ESO: Background information: France confirms rating to be downgraded http://www.europeansources.info/record/france-confirms-rating-to-be-downgraded/

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