Credit Rating Agency Threatens to Downgrade all Euro Zone Nations says Pan American Metals of Miami

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Credit Rating Agency Threatens to Downgrade all
Euro Zone Nations says Pan American Metals of
Miami
(1888PressRelease) Action by SP threatens even
healthy European economies. MIAMI, FL - Standard
Poor's threat to downgrade not only the credit
rating of all the European nations in the euro
zone, including that of France and Germany, but
also that of its bailout fund, the EFSF, served
to cause a minor panic the euro slid, the dollar
gained, and urlhttp//www.panamericanmetalsofmia
mi.com/PreciousMetals.aspxgold, therefore, slid
also. The bad news was somewhat ameliorated by
the announcement from French President Sarkozy
and German Chancellor Merkel of tough measures to
keep rogue nations in line and avoid other euro
zone countries from accumulating debt in the
future. Their proposals will be voted on at
Friday's summit meeting. The action by SP seems
almost threatening, coming as it does, just as
European leaders are entering talks to solve the
crisis. The idea of countries such as Germany and
Austria being downgraded by the agency seems
barely credible yet all members of the common
currency are necessarily affected by the
staggering debt levels of some of the nations.
Ironically, it is this for the very reason that
Nicolas Sarkozy and Angela Merkel are so
adamantly opposed to the idea of a euro
bond. "Gold is still acting out of character,"
says Bill Hionas, CEO of Pan American Metals of
Miami. "Disturbing news from Europe, with threats
of credit downgrades, should be driving investors
to buy gold as a safe haven. Instead, it is
driving people towards the US dollar while gold
moves in tandem with the euro." The proposals to
be voted on this Friday will include stronger
fiscal union and legal sanctions for countries
that fail to meet budget targets. The
announcement of this proposal was sufficient to
cause gold to bounce back from earlier daily
lows. However, we must wait till the weekend to
see if these proposals are accepted.
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About us Pan American Metals of Miami, LLC is a
group of traders, investors and account
executives that combines many years of experience
to help clients invest in bullion. PAMM provides
an individual investment service and is based in
Miami, Florida for convenient access to both
North and South American investors. Website
http//www.panamericanmetalsofmiami.com Press
Contact Debbie Bailey Executive
Administrator Pan American Metals of Miami,
LLC Email dbailey ( _at_ ) investpanam dot
com Website http//www.panamericanmetalsofmiami.c
om Source http//www.1888pressrelease.com/credit
-rating-agency-threatens-to-downgrade-all-euro-zon
e-na-pr-356259.html