Downgrades lead to push for faster reform

EU leaders are calling for faster action on fiscal reform policy after several EU countries are downgraded by S&P.  It remains to be seen if German Chancellor Merkel and other leaders can convince Euro zone countries to sign onto strict fiscal austerity measures and oversight at the EU level.
http://news.yahoo.com/merkel-vows-faster-eurozone-reform-p-downgrades-152932631.html

For a brief summary of developments in key countries, the New York Times has a tracking page for the debt crisis:
http://www.nytimes.com/interactive/business/global/european-debt-crisis-tracker.html?ref=global