Originally Posted By: Warstud
Standard & Poor’s credit analysts said Saturday that Euro-zone policy makers have failed to address the “broadening and deepening” financial crisis the region now faces, leading the agency to issue long-term downgrades on nine countries, including Cyprus, Italy, Portugal, Spain, Austria, France, Malta, Slovakia and Slovenia.
Really? France aside, how do any of these really play into the big picture?
OK, Austria is the equivalent of Massacheusetts, but Slovenia? Really? Rhode Island? LOL. Greece is less than Washington state. Italy would be like loosing California. A big deal, but the world over? Malta is 1/4 of our smallest output state, VT. Do broad markets need to crash by percentage points over Malta?
http://en.wikipedia.org/wiki/Comparison_between_U.S._states_and_countries_by_GDP_%28nominal%29
Its all to sell news, IMO.