OH SHIT...MOODY'S DOWNGRADES EUROPEAN UNION OUTLOOK FROM STABLE TO FULL RETARD......DOOM ON

[link to mobile.nytimes.com]

Moody's Investors Service cut the European Union's credit outlook to negative on Monday, reflecting the risks to Germany, France, Britain and the Netherlands, the four countries in the group with AAA ratings, which account for about 45 percent of the group's budget revenue.

Moody's lowered the outlook on the union's AAA long-term bond rating from stable, according to a statement released late Monday in Frankfurt. It also changed to negative from stable its outlook on the provisional AAA rating for the European Union's medium-term note program.

The change "reflects the negative outlook on the AAA ratings of the member states with large contributions to the E.U. budget," Moody's said. "The creditworthiness of these member states is highly correlated, as they are all exposed, albeit to varying degrees, to the euro area debt crisis."

Chancellor Angela Merkel of Germany told a crowd of beer drinkers in Bavaria on Monday that Germany must show solidarity with Europe, and indicated that she would back a more active role for the European Central Bank to fight the debt crisis. Her nation shoulders the largest c

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Silver is up $1.22 right now.

why does anybody listen to Moody's?

can't wait for the 12th...last hope is german Federal Constitutional Court