Portugal's downgrade 'appalling': EU Commission adviser

The downgrade of Portugal's debt to junk status by the credit ratings agency Moody's should serve as a wake-up call to the rest of Europe, says the country's president. Describing the move as a "detonator", Anibal Cavaco Silva called on European leaders to face up to American ratings agencies which he said, posed a threat to European economic stability. ... http://www.euronews.net/