S&P threatens 15-nation downgrade as leaders strike euro accord

Ratings agency Standard and Poor's (S&P) said France and Germany are among 15 nations that have been put on "credit watch" due to fears over the impact of the debt crisis.

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 ...