Portugal's Debt Downgrade: Why Nobody Cares

Matteo Radaelli submits: In line with last week’s emerging data, the most likely scenario for the next few years would divide the eurozone into two, with the major northern European countries growing at a healthy pace and the peripheral southern European countries, including Ireland, remaining in a quandary for several years.

In the wake of S&P debt downgrades, Merkel vows faster eurozone reforms. European leaders promised on Saturday to speed up plans to strengthen spending rules and get a permanent bailout fund up and running as soon as possible, a day after U.S. agency S&P cut the ratings of several euro zone countries' creditworthiness.

ETF Database submits: With Greece struggling to gain control of its financial situation, many investors have been wondering which of the relatively weak European economies would become the next problem area. It appears that they now have an answer, as Fitch Ratings lowered Portugal’s sovereign debt rating to AA- from AA with a negative outlook.

Everyone has bad days. Some just last longer or happen with greater frequency. If it appears I am having a bad day I generally hope for all the coming terrible news to flood me now. Why screw up another perfectly good day? Then I can put the horrible one behind and move on.