top bonität oder ansteckungsgefahr

The bullying, nannying antics of the credit-rating agencies have threatened to downgrade (toppling the Top Bonität, rating, of some 15 euro zone members) en masse the core countries of the shared-currency, not that Greece and others are peripheral but the financial machinery has already dismissed them. I kept belabouring these rather predictable developments, in hopes, that the insanity of it all is just a bit more apparent or, if already manifest, at least not taken as custom or as inescapable. The machinations of the confidence tricksters and assessors of gullibility, however, are forcing one's hand, perhaps too hastily down one strait, which removes serious deliberation to the speculators that would gamble on the failure of the whole enterprise. Collectively, we are leaning on France and Germany for leadership but the characteristics of good and effective governance did not suddenly become important commodities only when the monetary wherewithal of Europe was thrown into question.   It is extortion and it seems as if the credit-rating agencies and the markets have already made up their minds.  There's no honour in kow-towing to the bullies and taking their remedies without question, but maybe the menace of higher interest-rates, usury for past borrowing, might change the way people owe and how they owe--after all, too much easy credit and thoughtless debt helped create this mess to begin with--and that discipline, not austerity, might not be such a welcome shift for the lenders.