Will Europe walk it off? It is not that simple

You will hear a lot of views about the recent S&P downgrades for a majority of European countries. First, the politicians from those countries will questions the reasons, methodology and credibility of the rating agency. Then you will have those who will tell you that you should not expect anything from this round of downgrades as it is just a rating agency catching up to the reality. Finally, you will have banks assuring you that nothing will change and that they will be funding economic development further. Unfortunately all of those views are biased as they all have something to lose.

This is Europe!

I will comment a bit later. For now, take a look at the table below.