OK - Now that a rating agency has taken this drastic step surely in comparison this will have to create an ongoing pattern of sovereign downgrades throughout the world. For example I was just thinking, little South Australia has a AAA credit rating - Is Standard and Poors implying that the SA state Gov is a better risk than the US Govt? A bit ludicrous don't you think?
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- s and p downgrades us....
OK - Now that a rating agency has taken this drastic step surely...
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