A cartoon by Arend van Dam says all you really need to know about European intelligence and sophistication. It’s reporting bad news that causes the bad news, not the bad news itself that anyone would need to know about.
The subheading that reads “Credit ratings agencies' estimations of Eurozone debt is hurting the single currency.” Is careful to avoid the fact that it’s the Eurozone debt, unfunded mandates, and punitive over-regulation that might might have something to do with their credit rating instead.
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