Telegraph: Reports that Fitch the Credit Agency has further downgraded the credit rating of Greece, the Agency sees Greece having problems in its fire sale of Sate assets. Folks the EU/IMF knows that the Greek debt will have to be written off, there is no other option, but as soon as that happens the Greeks are in default and the Greek economy will be owned by the EU. Greece is the HIV patient who has to many partners and is sharing the contagion around EU. Thus far Ireland looks like it will need a 2nd bailout, Italy could be on the brink, then there is Spain, lets not think even think what would happen to the EU should Spain fall. The EU is a headless chicken folks, the Euro and its weaker carries could destroy the EU.
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