The European leaders were battling a pretty major storm that the ratings agencies helped create late last week when S&P cut the ratings on 9 euro-region countries. The most dramatic move was the loss of France’s AAA rating, leaving Germany as the sole AAA rated country in the currency union. Austria also lost its AAA [...] Ratings Agencies Make it Tough on European Leaders originally appeared in the Daily Reckoning . The Daily Reckoning, published by Agora Financial provides over 400,000 global readers economic news, market analysis, and contrarian investment ideas.