The only problem I see is that the downgrades were just to low and not complete enough
It still is completely ok to downgrade the EFSF. It’s simly a package of lies. It’s good hat this lies are not bought by the rating club.
You can see how well deserved the downgrades are if you read things like “Germans must help Italy” and the like. There is not must there is just a must not. But
this is ignored. But still I won’t forget the breaking of the contracts and laws. If you follow this blog you know that I’ve always expected them to follow their own given rules.
They won’t and don’t, so let them go down. So lower their ratings quite a big further an I’m happier.