Downgrade? What downgrade?

S & P on the European downgrade (read negative opinion) writes : "We believe that a reform process based on a pillar of fiscal austerity alone risks becoming self-defeating, as domestic demand falls in line with consumers’ rising concerns about job security and disposable incomes, eroding national tax revenues." 


Translation : If you piss against the wind while walking uphill, you'll probably soil yourself while sliding backwards...and the surprise will be if you don't. 


Will 1 Old Euro = 1 Neuro? Only time will tell...