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- Standard & Poor's
Standard & Poor's placed ratings of 15 euro zone countries on watch with negative outlook on Monday, hinting that nations' ratings depend on the outcome of a summit of European Union leaders on December 9.
"Systemic stresses in the euro zone have risen in recent weeks to the extent that they now put downward pressure on the credit standing of the euro zone as a whole," S&P said in a statement.
"The S&P move is yet another signal that euro area countries must take decisive action to deal with the crisis or else the problems will spread from Greece and others with the most acute fiscal problems to the rest of the euro zone," said Phillip Swagel, a professor of economics at the University of Maryland's School of Public Policy.
"It is time for Germany and France to act -- either to save Greece and the others or to let them fail."