Santa repellent: Moody's cuts Belgium by not 1 but 2 NOTCHES to AA3

And now it's on...., like Donkey Kong.

I didn't think it would take long after the last failed EU summit, but we are yet to hear from S&P and that's where the flood of downgrades will comes from. Belgium for their part is no longer committed to the EFSF as they have lost their AAa rating. France will likely get 2 notches and then any hope of saving the EU is out the window.