EU Countries again failed to convince Global Investors

Everyone around the World was waiting for the outcome of the just concluded crucial European submits. The objective of fixing the budget discipline has not cheered any one. Unfortunately it has not at all helped to restore the confidence of any one around the World including the entire Rating agency who had already issued warning to reduce rating of all Euro Zone Country including Germany & France in one go. Euro is losing strength against USD every passing day and soon going to touch 1.30, Stock market of entire Europe is going down and the borrowing cost of Countries like Italy and Spain has increased. To add to the problem Britain is talking differently. The legal sanctity & the time line of the agreement made are creating serious doubt in the mind of every one. Any negative announcement from either of the top three rating agency will make the situation more critical. S&P has already warned in advance to cut rating of 15 Countries , Moody has already announced to review rating of all 27 European Countries & Fitch although being a European Rating agency has shown total displeasure on the outcome of the summit. The stand taken by Britain raising voice against the treaty may also create certain political disturbance. To summaries a long way to go to find solution for euro zone