S&P downgrades 9 Eurozone credit ratings

Marc Faber - CNBC 13 January 2012 : Standard & Poor's has downgraded several of the eurozone's leading economies, which means that it will be more expensive for them to borrow in future. It's stripped France of its AAA credit rating. The ratings of Italy, Spain and Portugal have also been cut by two notches. Dr. Marc Faber, editor and publisher of the Gloom, Boom & Doom Report, discusses the S&P downgrade of France and other European countries. He believes they should be downgraded even further.

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.