Marc Faber -
CNBC 13 January 2012
Downgrade of Debt Ratings Underscores Europe's Woes
Jan-13-2012--PARIS - Standard & Poor's downgraded the credit ratings of France, Italy and seven other European countries on Friday, a move that may have more symbolic than fundamental financial impact but served as a reminder that Europe's economic woes were far from over.
AAA rating, cut a notch to AA+, was “not good news”
but was “not a catastrophe.”
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