Comments on: The Costa Concordia Disaster, and Other News https://parables.blog/costa-concordia-disaster-and-other-news/ Sat, 26 Sep 2020 07:15:42 +0000 hourly 1 https://wordpress.org/?v=6.7.2 By: Anonymous https://parables.blog/costa-concordia-disaster-and-other-news/#comment-1698 Wed, 18 Jan 2012 03:37:21 +0000 #comment-1698 It is no coincidence that the ship went down just as several major bond rating agencies (such as Standard and Poor's)were downgrading the sovereign (i.e., national) debt of several European countries(but not all), raising their borrowing costs and driving yet another wedge between them.

The first press release regarding those downgrades was issued by S&P at 4:36 PM Eastern Standard Time, which was 10:36PM Central European Time (i.e., in Italy).

The Concordia had hit a granite outcrop off Giglio Island slightly less than an hour prior to that, at 9:42PM European Central Time.

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