S&P threatens 15-nation downgrade as Merkel and Sarkozy strike euro accord

The move means six countries with the top AAA ratings - including France and Germany - would have a 50% chance of seeing their ratings downgraded. Austria, the Netherlands, Finland and Luxembourg also currently have top AAA rating. S&P said it wanted to see speedy action to resolve the debt crisis. It is quoted in the Telegraph as telling member nations the "lack of progress European policymakers have so far made in controlling the spread of the financial crisis may reflect structural weaknesses in the decision-making process within the eurozone and European Union". Stocks fell ...