Bracing for hard landing

Standard & Poor's decision to strip France of its top AAA credit rating confirms one thing. The effects of the European sovereign debt crisis are no longer confined to just the so-called PIIGS economies of Portugal, Ireland, Iceland, Greece and Spain. They now seem to be spreading to the ‘core' of the euro zone as well. The rating agency's downgrade on Friday, of France and Austria by a notch and deeper cuts for Italy and Spain, is a clear pointer to this. 

Read Full Story>>