Only minutes after French President Nicolas Sarkozy and German Chancellor Angela Markel had concluded their press conference in Paris on 5 December, having announced their long-term plans to counter the Eurozone sovereign- debt crisis, US ratings agency Standard & Poor’s (S&P) announced that they had placed the credit-worthiness of 15 Eurozone member states, including Germany, on 'negative watch'.

This was a somewhat political intervention ahead of the European Counc...

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