More pains seems to be intensifying as S&P has downgraded the Euro zone's rescue fund's rating

The Euro zone crisis seems to be intensifying. In the latest news on the zone, ratings agency Standard & Poors (S&P) has downgraded . The Eurpean Financial Stability Fund's rating has been downgraded to AA+. In addition to this, the ratings of two of its guarantors, France and Austria, have also been cut down. The result is that the EFSF's ability to raise cheap funds has now come under risk. The cheap funds have been raised by EFSF to fund the numerous bailouts that the Euro zone has undertaken. If it is unable to raise funds, then it would have to cut down on the loans that it hands out to the member countries. Though other rating agencies have not followed S&P's move, the funding capability of EFSF has come under question. Not that it matters. Because the size of funds required by the Euro zone to come out of its troubles, are so huge that even EFSF would find it tough to bail them all out.