Downgrade of Debt Ratings Underscores Europe’s Woes

An Athens street on Friday. Talks hit a snag between the Greek government and investors over a plan to help Greece avoid default.



By LIZ ALDERMAN and RACHEL DONADIO

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.
http://www.nytimes.com/2012/01/14/business/global/euro-zone-downgrades-expected.html?_r=1&nl=todaysheadlines&emc=tha2