Raising The Stakes
While stock markets appear to take a wait and see stance, Europe's future is once again in the hands of its politicians, who meet on Friday. Forget Wikileaks, here comes StanPooLeaks Not as catchy for sure, but just as fumbling, and yes, just about as smelly as it sounds! Standard & Poors muscle in on the debate over Europe again. In case anyone was doubting the seriousness of the situation and - the concern of the US in this respect, Standard & Poors published their preliminary findings about where Europe's credit worthiness is heading - in time to wake up even the sleepiest of undecided leaders. Suitably, the response from Germany in particular ranged from robust to arrogant, just what must be expected. They have not forgotten that it was the same rating agency that could not find anything wrong with Lehman Brothers a week before it collapsed, nor did they bat an eyelid when advising on the now notorious mortgage certificates touted to foreign -, and of course