Eurozone's 'big bazooka' bail-out fund is left in tatters by S&P downgrade

"Plans for a €1 trillion "big bazooka" to stem the debt crisis were crushed on Monday night as Standard & Poor's stripped the European Financial Stability Fund (EFSF) of its AAA credit rating..."

at http://www.telegraph.co.uk/finance/financialcrisis/9019093/Eurozones-big-bazooka-bail-out-fund-is-left-in-tatters-by-SandP-downgrade.html