Euro Zone: S&P has returned its verdict
Standard & Poor’s downgraded nine sovereigns out of the seventeen Eurozone partners. Even though the downgrade was not uniform and widespread, it was prompted by the worsening of the crisis and by the shortcomings of the European political response. Four countries only have seen their AAA rating reaffirmed. This should trigger an adjustment in the EFSF’s structure and/or rating. France’s rating has been downgraded by one notch, to AA+. The outlook on France, as on all Eurozone members but
