Eurozone: The time is almost up - so says one of the big three credit agancies S&P

From: Russia Today
Piper-paying Germany wants to call the tune
Published: 06 December, 2011, 12:07
The euro's time is almost up - so says one of the big three credit rating agencies as it prepares for a mass eurozone debt downgrade. S&P's announcement shook international markets, with investors cutting and running on European holdings.

­Especially worrying for them this time is that even Germany, seen as the EU's backbone, is not being spared. Standard & Poor's justified its decision by pointing out the bloc's consistent failure to stem its debts, even as nations saw their bond interest rates rocket.

But all is not yet lost, with EU leaders gathering in Brussels on Thursday for what is expected to be their last chance to come up with a final, lasting solution.

The eurozone crisis has been good fodder for cartoonists, but it is no laughing matter. Four major rescue packages, numerous unpopular austerity measures, two years and hundreds of billions of euros in bailouts later -- it is still in need of a shot from that elusive "big bazooka" solution.

Hopes are high that the December 9 EU summit will finally be a decisive day for the euro's future.
http://rt.com/news/eurozone-debt-idea-eu-123/
................................................................
6 December 2011 | 10:29am
StockMarketWire.com - Shares in the major European markets fell back in early trading.

Investors had been encouraged by the agreement reached yesterday by German Chancellor, Angela Merkel, and French President, Nicolas Sarkozy, on plans for greater budget discipline within the eurozone.

But fresh worries have set in as a result of Standard and Poor's threat to downgrade the credit ratings of eurozone countries.

By mid morning the Dax index was down nearly 1% while the Cac 40 in France had fallen around 0.5%.

Story provided by StockMarketWire.com
http://www.stockmarketwire.com/article/4271266/European-shares-fall-back.html
..................................................
INSIGHT-Conflicting visions at core of euro zone crisis
* France sees euro as political project, Germany as economic

* France wants intergovernmental core Europe

* Germany favours common EU institutions, rule of law

* Both want euro zone veto for big states, not small ones

By Paul Taylor

PARIS, Dec 6 (Reuters) - Same bed, different dreams.

Since the inception of the euro, France and Germany have pursued divergent visions of European economic and monetary union. In two decades, the French have become a little more German, the Germans a little more French. But the gulf remains.
http://www.reuters.com/article/2011/12/06/eurozone-visions-idUSL5E7N52Z620111206

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[Dandaniels1978]

When the whole things collapses next year, politicians better run for the hills. The blame lays with them.

[financialtools1]

EU: 3 Credit Rating Agencies , after bringing the world economy in 2008-'11 to near collapse w/ AAA ratings on junk-mortgages-securities of no-value except bonuses-fees for Bankers-Hedge-Funds, now they are pushing Europa Bonds-Debt down using neocon media ? and dividing Europa against U.K.? Let's clean up all Banks without bonuses+let's create 15 million jobs w/Solar/Wind/Wave,hybrid-elect­ric plug-in cars/trucks/bicycles,nano-fuel­-cells,fusion,natural organic farms,financialtools1.blogspot­.com

[sidious1977]

Fascism, alive and well!....lmao.......I said it before, If Hitler had knew that instead of invading countries, all he had to do was create one currency and then make sure your the strongest country, I'm sure he would have followed that....lol.......what's Merkel going to do?.....fine Greece?....what they going to pay with?....people?.....lol

[slckaren]

Crazy- Europe needs Germany to save its behind, leaving Europe ultimately beholden to Germany. Germany finally gets the control of Europe it sought in the last century. The irony.

[plalelal]

So the plan still is to continue the destruction of America by having the U.S. loan the world bank billions, and then the world bank loanining it to the Euro zone so when they can't pay we all fall down.