Telegraph: Reports that Moody’s the Credit Agency has followed other credit agencies and downgraded the credit rating of Spain from A1 to Aa2, the downgrade is due to low growth and high debt in Spain. Lets be honest folks, if Italy and Spain go the games is over, they are to BIG to fail. The rumoured big plan for a banking bailout, a 2/3 trillion bailout fund, and a managed default of Greece has been shot down by Germany. Thus the future of the Euro and even the EU has to be in doubt, it will need a detailed big plan folks, and so far its slow in coming, but there is still time folks, the basic frame work should be known by Sunday when EU leaders meet in France.
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