Fitch Downgrades Greece's Credit Rating To One Step Above Default

Everyone focuses on Greece, but Portugal and Ireland had their bonds lowered to junk status as well, and Italy and Spain are teetering too. This isn't a Greece issue solely. My guess is that the other PIIGS nations are actually waiting for Greece to default so they can follow the same course of action. The Bankers devastated economies around the world, though the press wants make the focus of the crisis those "free-spen­ding Socialist Greeks", which is just spin.



Meanwhile, Iceland (who should be the template for the PIIGS in responding to the pickle they are in) is going after the bankers:



"Pressenza Reikjavik, 3/28/11 Last week 9 people were arrested in London and Reykjavik for their possible responsibi­lity for Iceland’s financial collapse in 2008, a deep crisis which developed into an unpreceden­ted public reaction that is changing the country's direction.



It has been a revolution without weapons in Iceland, the country that hosts the world's oldest democracy (since 930), and whose citizens have managed to effect change by going on demonstrat­ions and banging pots and pans. Why have the rest of the Western countries not even heard about it?"



http://www­.pressenza­.com/nperm­alink/icel­andx-a-cou­ntry-that-­wants-to-p­unish-the-­bankers-re­sponsible-­for-the-cr­isis
Read the Article at HuffingtonPost