Icy water

Friday's S&P decision to downgrade the credit rating of a number of European countries was a bucket of icy water for all the eurozone. The market was starting to throw positive signs, amidst the successfull debt issuances of several countries. But this decision is not a complete surprise - Europe is failing to be convincing on answering to eurozone's governance and future economical models and to get back to growth.

http://money.cnn.com/2012/01/15/markets/europe/index.htm?cnn=yes&hpt=hp_bn1