Standard & Poor`s issues warning to Euro nations.

Ratings agency Standard and Poor's has put almost the entire eurozone, including Germany and France, on "credit watch" due to fears over the impact of the debt crisis, BBC News reported.

S&P's move means six countries with top AAA ratings would have a 50% chance of seeing their ratings downgraded.
The news came as a surprise to investors and saw stocks fall back on early gains as the euro also fell. France and Germany say a new EU treaty is needed to tackle the crisis.
The proposal came after talks in Paris between French President Nicolas Sarkozy and German Chancellor Angela Merkel. They said all 17 eurozone states should face greater checks on their budgets and sanctions if they run up deficits, and that a new treaty should be completed by March to ensure such a crisis never happened again.

Ahead of the summit, US Treasury Secretary Timothy Geithner is arriving in Europe to hold talks with top financial officials in several countries. On Tuesday, he will hold a meeting at the European Central Bank in Frankfurt before his talks with German Finance Minister Wolfgang Schauble.