It seemed to me that the market had already begun to move against Greece. If credit agencies don't reflect the lack of political momentum (and a plan to pay cr

It seemed to me that the market had already begun to move against Greece. If credit agencies don't reflect the lack of political momentum (and a plan to pay creditors) then agencies loose their credibility. I doubt that S&P acts in an isolated manner, and is part a political play and can be influenced by other organisations, economic reports and political moves. This may even be a mechanism to sell the bailout to the German electorate.