Marc Faber - CNBC 13 ----------------------- January 2012

Marc Faber -

CNBC 13 January 2012

Downgrade of Debt Ratings Underscores Europe's Woes

Jan-13-2012--PARIS - Standard & Poor's downgraded the credit ratings of France, Italy and seven other European countries on Friday, a move that may have more symbolic than fundamental financial impact but served as a reminder that Europe's economic woes were far from over.

AAA rating, cut a notch to AA+, was “not good news”

but was “not a catastrophe.”

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