The World from Berlin 'Ratings Agencies Are Not Responsible for Crisis'

Standard and Poor's has downgraded the European bailout fund, the EFSF, following last week's downgrade of nine euro-zone members. European politicians are doing their best to exude calm. German observers argue that the messenger shouldn't be blamed for bad news.
Standard & Poor's headquarters in New York.

Standard & Poor's headquarters in New York.

Foto: dapd
-- David Gordon Smith