rocky mountain thigh wednesday, page-18

Standard & Poor's has warned it could downgrade 15 euro zone members.
Moody's Investors Service says it intends to review the ratings of all 27 members of the European Union in the first quarter of 2012.
Fitch Ratings said the summit failed to provide a "comprehensive" solution to the crisis, thus increasing short-term pressure on euro zone sovereign ratings.
A ratings downgrade would further weaken the EFSF (European Financial Stability Facility).
On top of the doubts about the EFSF, the ESM (European Stability Mechanism) is still 6 or 7 months away.
Italy has 150 billion euros in debt falling due between February and April alone.
Italy, Spain and France together have to raise an average 17 billion euros of government debt every week in 2012, leaving plenty of scope for a funding accident.
All 17 euro zone members must also ratify the powers of the new ESM. The main hurdles to getting it up and running by July include getting the Finnish parliament to drop its detailed objections.
Under technocrat Prime Minister Lucas Papademos, talks about a second Greek bailout worth 130 billion euros are under way again.
If those talks fell apart, Greece could yet stumble into a disorderly default which could shatter any remaining confidence in the euro zone.
The European Banking Authority said last week that Europe's banks must find 115 billion euros of extra capital, the threat of a bank failure could prompt a new credit crunch which would take the crisis to a new level.

This is looking so bad I am thinking of buying soon.

Be good for goodness sake.