EUROPEAN UNION IN A DESCENDIND\G SPIRAL

THE EUROPEAN UNION IS IN A SLOW BUT STEADY DOWNWARD SPIRAL

SPAIN JUST TOOK A TWO PLACE HIT, THUS LOWERING ITS S & P RATING TO A BBB, THIS IS NEARLY THE SAME AS ITALY'S RATING OF BBB+.

THIS FOLLOWS THE RATING COMPANIES FEELING OF A MAJOR FINANCIAL WORLD WIDE CATASTROPHE.

LET'S LOOK AT THE CURRENT SITUATION, FRANCE, SPAIN, UNITED STATES, ITALY,    PORTUGAL, IRELAND AND GREECE ALL HOLD THE DISTINCTION OF HAVING A NEGATIVE FORECAST BY THE THREE RATINGS COMPANIES.

AAA IS THE HIGHEST RATING, THIS SHOWS SOLID GROWTH QUARTER ON QUARTER, INFLATION UNDER CONTROL AND A GENERAL POSITIVE OUTLOOK FOR THE FUTURE.

NOW THERE A NUMBER OF RATINGS WITH IN EACH IN EACH LETTERED CATEGORY, AAA,AA+ OR -, A THE SAME, BBB, BB, B, CCC,CC, C AND SO FORTH.

FRANCE AND THE U.S. ARE AT AA+ WITH A NEGATIVE OUT LOOK, SPAIN A NEGATIVE, IRELAND AND ITALY BBB+ NEGATIVE, PORTUGAL BB NEGATIVE, GREECE IS OFF THE CHART AND ANOTHER NEGATIVE.