S&P Downgrades Nine Euro Zone Countries

Dr. Michael LaitmanIn the News (From Reuters): “Standard & Poor’s downgraded the credit ratings of nine euro zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday the 13th for the troubled single currency area.

“S&P cut the ratings of Italy, Spain, Portugal and Cyprus by two notches and the standings of France, Austria, Malta, Slovakia and Slovenia by one notch each.

“It put 14 euro-zone states on negative outlook for a possible further downgrade, including France, Austria, and still triple-A-rated Finland, the Netherlands, and Luxembourg.

“Germany was the only country to emerge totally unscathed with its triple-A rating and a stable outlook.

“French Finance Minister Francois Baroin, speaking after an emergency meeting with President Nicolas Sarkozy, played down the impact of Europe’s second-biggest economy being downgraded to AA+ for the first time since 1975.”

My Comment: It is time for the governments to revise their outlook on the interconnection of the world and draw conclusions: We must bring ourselves to full integration, to a society of reasonable consumption, and to raise everyone to the level of decent existence. This can be achieved gradually through total mandatory integral education and upbringing.

We need to gradually build this system of virtual learning and make everyone’s participation in listening to the lectures on integral education a condition for receiving salaries or benefits, and so on. In this case, we will appease the frustrated population and with its help, create the network of mutual assistance.

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