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February 14th, 2012 
FAKE NEWS for the Zionist agenda Moody’s ratings agency has downgraded Italy, Spain and Portugal, and lowered its outlook for France, Britain and Austria to negative from stable.This comes after rioting in Athens following the Greek parliament’s passing a new austerity package.
Moody’s has also cut the ratings of Slovakia, Slovenia and Malta. It says the downgrade is due to uncertainty over European Union financial reforms, the region’s weak economic outlook and the resulting pressure on fragile markets.
Early Monday, Greek lawmakers approved a plan demanded by bailout creditors to save the nation from bankruptcy.A default could have forced Greece out of the euro, and drag down other troubled euro zone countries and further hurt global markets.
The new budget cuts were demanded by the EU and International Monetary Fund as the price of a second 130-billion-euro ($172 billion) debt rescue. The new cuts include reductions in the country’s minimum wage and further layoffs in the public sector.
The measures have been met with blazing protests and the some of the worst violence the Greek capital has seen in years. A 100,000-strong demonstration took to the streets of Athens while parliament was still voting, with some 2,000 anarchist protesters rioting.
Officials say 45 buildings were wholly or partly destroyed by fire as the violence spread. 170 businesses around the city center were damaged and looted, including banks, bookstores, jewelry shops, home appliance stores and supermarkets. Authorities say 54 civilians and 68 members of the police were injured. At least 74 rioters have been arrested, and a further 92 detained.
As municipal workers were clearing up the still smoldering buildings in the Greek capital, German Chancellor Angela Merkel brushed aside suggestions the new program of austerity measures for Greece should be softened.
Merkel said the Monday vote was very important and insisted the program is not just about austerity but also about structural reforms meant to make Greece more competitive. Her finance minister, Wolfgang Schaeuble, said creditors have “no intention of torturing anyone” with the plan but want to help Greece.
Germany said it would not give its final approval for the new aid payments until early March. The decision will come after it becomes clear how many banks and investment funds are willing to take losses on their Greek bonds, only then will the parliament in Berlin vote on the new measures.
Pushing the new bailout back underlines the amount of distrust that has built up against Greece over the past two years. Many promised cuts and reforms were passed in the Greek Parliament but never actually implemented.
RT’s Jacob Greaves talked to people on the streets of Athens to learn they too have a certain amount of distrust that has built up against the EU and their own government’s ‘better intentions.’
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